Hsbc Holdings PLC Buys New Shares in Talkspace, Inc. $TALK

Hsbc Holdings PLC bought a new position in shares of Talkspace, Inc. (NASDAQ:TALK) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 329,151 shares of the company’s stock, valued at approximately $1,703,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TALK. Vanguard Group Inc. lifted its stake in Talkspace by 5.4% in the third quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock valued at $26,090,000 after acquiring an additional 483,012 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Talkspace by 14.6% during the 4th quarter. Deutsche Bank AG now owns 7,094,525 shares of the company’s stock worth $25,753,000 after purchasing an additional 905,304 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Talkspace by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,413,825 shares of the company’s stock valued at $12,395,000 after purchasing an additional 15,436 shares during the period. Royce & Associates LP raised its holdings in shares of Talkspace by 39.7% in the 4th quarter. Royce & Associates LP now owns 3,036,360 shares of the company’s stock valued at $11,022,000 after purchasing an additional 862,098 shares during the period. Finally, Metavasi Capital LP raised its holdings in shares of Talkspace by 77.3% in the 4th quarter. Metavasi Capital LP now owns 2,704,577 shares of the company’s stock valued at $9,818,000 after purchasing an additional 1,179,156 shares during the period. 57.37% of the stock is owned by institutional investors.

Insider Buying and Selling at Talkspace

In other news, insider John Charles Reilly sold 55,144 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $5.21, for a total transaction of $287,300.24. Following the completion of the sale, the insider owned 1,057,975 shares in the company, valued at approximately $5,512,049.75. This trade represents a 4.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 insiders.

Analyst Ratings Changes

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

Talkspace Stock Performance

TALK opened at $5.21 on Monday. Talkspace, Inc. has a 1-year low of $2.22 and a 1-year high of $5.25. The stock’s fifty day simple moving average is $5.21 and its 200 day simple moving average is $4.87. The stock has a market cap of $872.73 million, a PE ratio of 521.52 and a beta of 1.07.

Talkspace (NASDAQ:TALK) last announced 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). Talkspace had a net margin of 0.49% and a return on equity of 1.03%. The business had revenue of $61.68 million for the quarter, compared to analyst estimates of $63.32 million. Equities analysts forecast that Talkspace, Inc. will post 0.13 earnings per share for the current year.

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.