Groupe la Francaise Increases Stock Position in Talkspace, Inc. $TALK

Groupe la Francaise boosted its holdings in Talkspace, Inc. (NASDAQ:TALK) by 30.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 853,800 shares of the company’s stock after buying an additional 201,000 shares during the period. Groupe la Francaise owned approximately 0.51% of Talkspace worth $4,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Royal Bank of Canada grew its position in shares of Talkspace by 102.1% in the first quarter. Royal Bank of Canada now owns 8,192 shares of the company’s stock valued at $42,000 after purchasing an additional 4,138 shares in the last quarter. Cerity Partners LLC purchased a new stake in Talkspace during the 2nd quarter worth about $28,000. California State Teachers Retirement System boosted its stake in Talkspace by 31.9% in the 2nd quarter. California State Teachers Retirement System now owns 10,296 shares of the company’s stock worth $54,000 after purchasing an additional 2,491 shares during the period. Neuberger Berman Group LLC bought a new position in Talkspace in the 4th quarter worth about $38,000. Finally, Quantinno Capital Management LP bought a new position in Talkspace in the 1st quarter worth about $55,000. 57.37% of the stock is owned by institutional investors.

Insider Activity at Talkspace

In other news, insider John Reilly sold 55,144 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $5.21, for a total transaction of $287,300.24. Following the completion of the transaction, the insider owned 1,057,975 shares of the company’s stock, valued at approximately $5,512,049.75. The trade was a 4.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 23.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Talkspace in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Talkspace has a consensus rating of “Hold” and an average target price of $5.56.

Talkspace Price Performance

Talkspace stock opened at $5.25 on Tuesday. Talkspace, Inc. has a fifty-two week low of $2.49 and a fifty-two week high of $5.25. The firm’s fifty day moving average price is $5.23 and its 200-day moving average price is $5.16.

Talkspace (NASDAQ:TALK) last posted its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $61.67 million for the quarter, compared to analysts’ expectations of $67.99 million. Talkspace had a return on equity of 0.17% and a net margin of 0.08%. On average, sell-side analysts expect that Talkspace, Inc. will post 0.14 earnings per share for the current year.

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.