Punch & Associates Investment Management Inc. Makes New Investment in Talkspace, Inc. $TALK

Punch & Associates Investment Management Inc. bought a new position in shares of Talkspace, Inc. (NASDAQ:TALK) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 449,630 shares of the company’s stock, valued at approximately $2,327,000.

A number of other large investors have also recently made changes to their positions in TALK. Mak Capital One LLC bought a new position in shares of Talkspace in the fourth quarter worth about $8,042,000. Stoic Point Capital Management LLC bought a new stake in Talkspace during the 4th quarter valued at about $7,554,000. Metavasi Capital LP lifted its holdings in Talkspace by 77.3% during the 4th quarter. Metavasi Capital LP now owns 2,704,577 shares of the company’s stock valued at $9,818,000 after buying an additional 1,179,156 shares in the last quarter. Deutsche Bank AG boosted its position in Talkspace by 14.6% in the 4th quarter. Deutsche Bank AG now owns 7,094,525 shares of the company’s stock valued at $25,753,000 after buying an additional 905,304 shares during the period. Finally, Royce & Associates LP boosted its position in Talkspace by 39.7% in the 4th quarter. Royce & Associates LP now owns 3,036,360 shares of the company’s stock valued at $11,022,000 after buying an additional 862,098 shares during the period. 57.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.56.

Talkspace Stock Performance

Shares of TALK stock opened at $5.21 on Friday. Talkspace, Inc. has a twelve month low of $2.22 and a twelve month high of $5.25. The stock has a market capitalization of $872.73 million, a price-to-earnings ratio of 521.52 and a beta of 1.07. The stock has a fifty day simple moving average of $5.21 and a two-hundred day simple moving average of $4.86.

Talkspace (NASDAQ:TALK) last posted its quarterly 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 firm had revenue of $61.68 million for the quarter, compared to the consensus estimate of $63.32 million. Talkspace had a return on equity of 1.03% and a net margin of 0.49%. Research analysts predict that Talkspace, Inc. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Talkspace news, insider John Charles Reilly sold 40,289 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $5.20, for a total transaction of $209,502.80. Following the transaction, the insider owned 1,017,686 shares of the company’s stock, valued at approximately $5,291,967.20. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.50% of the stock is currently owned by company insiders.

About Talkspace

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.