Credit Industriel ET Commercial Buys New Shares in Talkspace, Inc. $TALK

Credit Industriel ET Commercial purchased a new position in Talkspace, Inc. (NASDAQ:TALK) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 435,200 shares of the company’s stock, valued at approximately $2,252,000. Credit Industriel ET Commercial owned 0.26% of Talkspace at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Talkspace by 5.4% in the third quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock worth $26,090,000 after purchasing an additional 483,012 shares during the last quarter. Deutsche Bank AG grew its holdings in Talkspace by 14.6% during 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 in the last quarter. Geode Capital Management LLC increased its stake in Talkspace by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,413,825 shares of the company’s stock worth $12,395,000 after acquiring an additional 15,436 shares during the last quarter. Royce & Associates LP increased its stake in Talkspace by 39.7% in the 4th quarter. Royce & Associates LP now owns 3,036,360 shares of the company’s stock worth $11,022,000 after acquiring an additional 862,098 shares during the last quarter. Finally, Metavasi Capital LP raised its holdings in shares of Talkspace by 77.3% during the 4th quarter. Metavasi Capital LP now owns 2,704,577 shares of the company’s stock worth $9,818,000 after acquiring an additional 1,179,156 shares in the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Analyst Upgrades and Downgrades

TALK has been the subject of a number of recent research reports. Canaccord Genuity Group lowered shares of Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Barclays lowered their price objective on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research report on Monday, March 9th. William Blair downgraded shares of Talkspace from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Needham & Company LLC cut shares of Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, KeyCorp downgraded shares of Talkspace from an “overweight” rating to a “hold” rating in a report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.56.

Talkspace Stock Down 0.5%

NASDAQ TALK opened at $5.21 on Tuesday. Talkspace, Inc. has a 52 week low of $2.22 and a 52 week high of $5.24. The company has a 50 day moving average price of $5.20 and a 200 day moving average price of $4.71. The firm has a market cap of $873.56 million, a PE ratio of 522.02 and a beta of 1.07.

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

Insider Transactions at Talkspace

In related news, insider John Charles Reilly sold 55,144 shares of the company’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 transaction, the insider directly owned 1,057,975 shares of the company’s stock, valued at $5,512,049.75. This represents a 4.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.50% of the stock is owned by corporate 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.