Groupe la Francaise Invests $3.38 Million in Talkspace, Inc. $TALK

Groupe la Francaise bought a new stake in shares of Talkspace, Inc. (NASDAQ:TALK) during the first quarter, Holdings Channel.com reports. The fund bought 652,800 shares of the company’s stock, valued at approximately $3,378,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TALK. Royal Bank of Canada raised its stake in Talkspace by 102.1% in the first quarter. Royal Bank of Canada now owns 8,192 shares of the company’s stock worth $42,000 after buying an additional 4,138 shares in the last quarter. Cerity Partners LLC bought a new stake in Talkspace during the 2nd quarter valued at approximately $28,000. Neuberger Berman Group LLC bought a new stake in Talkspace during the 4th quarter valued at approximately $38,000. Quantinno Capital Management LP purchased a new position in shares of Talkspace during the 1st quarter worth approximately $55,000. Finally, Vise Technologies Inc. purchased a new position in shares of Talkspace during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace Trading Up 0.2%

Shares of TALK stock opened at $5.22 on Friday. Talkspace, Inc. has a 12 month low of $2.22 and a 12 month high of $5.25. The stock has a market cap of $874.40 million, a PE ratio of 522.52 and a beta of 1.07. The company’s fifty day moving average price is $5.21 and its 200-day moving average price is $4.91.

Talkspace (NASDAQ:TALK) last released its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The business 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, sell-side analysts forecast that Talkspace, Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered 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 given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.56.

Insider Buying and Selling

In other Talkspace news, insider John Charles Reilly sold 40,289 shares of the firm’s stock in a transaction that occurred 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 owned 1,017,686 shares of the company’s stock, valued at approximately $5,291,967.20. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 23.50% of the stock is owned by insiders.

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.