Renaissance Technologies LLC Acquires 523,400 Shares of Talkspace, Inc. $TALK

Renaissance Technologies LLC raised its holdings in shares of Talkspace, Inc. (NASDAQ:TALK) by 24.1% in the 1st quarter, HoldingsChannel reports. The firm owned 2,690,800 shares of the company’s stock after buying an additional 523,400 shares during the period. Renaissance Technologies LLC’s holdings in Talkspace were worth $13,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TALK. Gabelli Funds LLC acquired a new position in shares of Talkspace in the first quarter valued at $2,740,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Talkspace in the first quarter valued at about $2,212,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Talkspace by 38.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,060,055 shares of the company’s stock worth $15,836,000 after buying an additional 855,015 shares during the last quarter. Capula Management Ltd acquired a new stake in shares of Talkspace during the 1st quarter worth about $2,588,000. Finally, Sei Investments Co. bought a new stake in shares of Talkspace during the 1st quarter worth about $106,000. 57.37% of the stock is owned by institutional investors.

Talkspace Stock Up 0.2%

Shares of Talkspace stock opened at $5.22 on Friday. The company has a market capitalization of $874.40 million, a price-to-earnings ratio of 522.52 and a beta of 1.07. Talkspace, Inc. has a 12-month low of $2.22 and a 12-month high of $5.25. The firm’s 50-day moving average price is $5.21 and its two-hundred day moving average price is $4.91.

Talkspace (NASDAQ:TALK) last released its earnings results on Monday, May 11th. The company reported ($0.04) 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 the consensus estimate of $63.32 million. Talkspace had a net margin of 0.49% and a return on equity of 1.03%. On average, sell-side analysts expect that Talkspace, Inc. will post 0.13 earnings per share for the current year.

Insider Transactions at Talkspace

In related news, insider John Charles Reilly sold 55,144 shares of Talkspace stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $5.21, for a total value 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 trade represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 company insiders.

Wall Street Analysts Forecast Growth

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

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.