Migdal Insurance & Financial Holdings Ltd. Sells 750,000 Shares of Talkspace, Inc. (NASDAQ:TALK)

Migdal Insurance & Financial Holdings Ltd. cut its stake in shares of Talkspace, Inc. (NASDAQ:TALK - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,250,000 shares of the company's stock after selling 750,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.75% of Talkspace worth $3,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. NVP Associates LLC purchased a new position in shares of Talkspace in the fourth quarter valued at approximately $8,973,000. Vanguard Group Inc. boosted its holdings in Talkspace by 29.5% in the third quarter. Vanguard Group Inc. now owns 5,740,353 shares of the company's stock valued at $11,194,000 after purchasing an additional 1,307,834 shares during the period. Goldman Sachs Group Inc. grew its stake in Talkspace by 44.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,081,589 shares of the company's stock worth $8,842,000 after purchasing an additional 1,571,383 shares in the last quarter. AWM Investment Company Inc. increased its holdings in Talkspace by 94.2% during the 3rd quarter. AWM Investment Company Inc. now owns 2,287,724 shares of the company's stock worth $4,461,000 after purchasing an additional 1,109,876 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in Talkspace by 87.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,594,800 shares of the company's stock valued at $973,000 after purchasing an additional 744,800 shares in the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

Talkspace Stock Down 3.0 %

TALK stock traded down $0.09 during trading on Wednesday, hitting $2.94. The company had a trading volume of 916,795 shares, compared to its average volume of 1,258,979. The firm has a 50-day moving average price of $3.09 and a 200-day moving average price of $2.47. The firm has a market cap of $496.58 million, a PE ratio of -25.08 and a beta of 1.26. Talkspace, Inc. has a 1-year low of $0.74 and a 1-year high of $3.92.

Talkspace (NASDAQ:TALK - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. Talkspace had a negative net margin of 12.78% and a negative return on equity of 16.06%. The company had revenue of $42.42 million during the quarter, compared to the consensus estimate of $38.30 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. Sell-side analysts anticipate that Talkspace, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TALK shares. TheStreet upgraded shares of Talkspace from a "d" rating to a "c-" rating in a research note on Thursday, February 22nd. Barclays raised their price objective on shares of Talkspace from $2.50 to $3.00 and gave the stock an "equal weight" rating in a report on Friday, February 23rd.

Talkspace Company Profile

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.