Gabelli Funds LLC Purchases New Position in Talkspace, Inc. $TALK

Gabelli Funds LLC purchased a new stake in Talkspace, Inc. (NASDAQ:TALK) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 529,410 shares of the company’s stock, valued at approximately $2,740,000.

Several other hedge funds have also bought and sold shares of the stock. Cerity Partners LLC acquired a new stake in shares of Talkspace during the 2nd quarter worth approximately $28,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Talkspace during the 3rd quarter valued at approximately $35,000. Neuberger Berman Group LLC acquired a new position in shares of Talkspace in the 4th quarter valued at $38,000. Engineers Gate Manager LP acquired a new position in shares of Talkspace in the 2nd quarter valued at $39,000. Finally, Vise Technologies Inc. acquired a new position in shares of Talkspace in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Talkspace Stock Down 0.2%

Shares of Talkspace stock opened at $5.21 on Wednesday. The firm has a market cap of $872.73 million, a PE ratio of 521.52 and a beta of 1.07. Talkspace, Inc. has a twelve month low of $2.22 and a twelve month high of $5.25. The business has a 50-day moving average price of $5.21 and a 200 day moving average price of $4.89.

Talkspace (NASDAQ:TALK) last issued 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). Talkspace had a return on equity of 1.03% and a net margin of 0.49%.The business had revenue of $61.68 million for the quarter, compared to analysts’ expectations of $63.32 million. On average, sell-side analysts expect that Talkspace, Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling

In other Talkspace news, insider John Charles Reilly sold 40,289 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $5.20, for a total transaction of $209,502.80. Following the completion of the transaction, the insider directly owned 1,017,686 shares in the company, valued at approximately $5,291,967.20. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.50% of the company’s stock.

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.