Carmignac Gestion Buys Shares of 146,646 Talkspace, Inc. $TALK

Carmignac Gestion purchased a new position in shares of Talkspace, Inc. (NASDAQ:TALK) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 146,646 shares of the company’s stock, valued at approximately $759,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Verus Capital Partners LLC bought a new stake in shares of Talkspace in the 1st quarter valued at $83,000. Groupe la Francaise bought a new position in Talkspace during the first quarter worth $3,378,000. Bank of America Corp DE raised its stake in Talkspace by 63.2% during the first quarter. Bank of America Corp DE now owns 235,250 shares of the company’s stock worth $1,217,000 after buying an additional 91,097 shares during the last quarter. Janus Henderson Group PLC bought a new position in Talkspace during the first quarter worth $1,553,000. Finally, Royal Bank of Canada lifted its holdings in 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 buying an additional 4,138 shares during the period. Institutional investors and hedge funds own 57.37% of the company’s stock.

Insider Activity

In related news, insider John Charles Reilly sold 55,144 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $5.21, for a total transaction of $287,300.24. Following the transaction, the insider owned 1,057,975 shares in the company, valued at $5,512,049.75. The trade was a 4.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.50% of the stock is owned by insiders.

Talkspace Stock Performance

Shares of TALK stock opened at $5.22 on Monday. Talkspace, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $5.25. The stock has a 50 day simple moving average of $5.21 and a two-hundred day simple moving average of $4.91. The company has a market cap of $874.42 million, a P/E ratio of 522.52 and a beta of 1.07.

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 business 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%. On average, research analysts predict that Talkspace, Inc. will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.56.

Talkspace Company 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.