Credit Industriel ET Commercial Takes $2.25 Million Position in Talkspace, Inc. $TALK

Credit Industriel ET Commercial bought a new stake in Talkspace, Inc. (NASDAQ:TALK) during the 1st quarter, HoldingsChannel.com reports. The fund bought 435,200 shares of the company’s stock, valued at approximately $2,252,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Talkspace during the 4th quarter valued at about $450,000. Occam Crest Management LP raised its stake in shares of Talkspace by 77.7% in the fourth quarter. Occam Crest Management LP now owns 1,830,000 shares of the company’s stock worth $6,643,000 after purchasing an additional 800,000 shares during the last quarter. Royce & Associates LP raised its stake in shares of Talkspace by 39.7% in the fourth quarter. Royce & Associates LP now owns 3,036,360 shares of the company’s stock worth $11,022,000 after purchasing an additional 862,098 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Talkspace by 16.7% during the fourth quarter. First Eagle Investment Management LLC now owns 2,206,130 shares of the company’s stock worth $8,008,000 after purchasing an additional 315,500 shares during the period. Finally, MYDA Advisors LLC acquired a new stake in shares of Talkspace during the fourth quarter worth about $290,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Insider Transactions at Talkspace

In other news, insider John Charles Reilly sold 40,289 shares of Talkspace stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $5.20, for a total value of $209,502.80. Following the completion of the transaction, the insider owned 1,017,686 shares in the company, valued at approximately $5,291,967.20. This trade represents a 3.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 23.50% of the stock is owned by corporate insiders.

Talkspace Trading Down 0.5%

Talkspace stock opened at $5.21 on Tuesday. Talkspace, Inc. has a twelve month low of $2.22 and a twelve month high of $5.24. The stock’s fifty day simple moving average is $5.20 and its 200-day simple moving average is $4.71. The firm has a market capitalization of $873.56 million, a P/E ratio of 522.02 and a beta of 1.07.

Talkspace (NASDAQ:TALK) last released its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The company had revenue of $61.68 million during the quarter, compared to analysts’ expectations of $63.32 million. Talkspace had a net margin of 0.49% and a return on equity of 1.03%. Sell-side analysts predict that Talkspace, Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TALK shares. Needham & Company LLC downgraded shares of Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th. KeyCorp lowered shares of Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. Canaccord Genuity Group downgraded Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings lowered shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Finally, Barclays lowered their target price on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a report on Monday, March 9th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Talkspace has an average rating of “Hold” and an average price target of $5.56.

Talkspace Profile

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.