GABELLI & Co INVESTMENT ADVISERS INC. Takes Position in Talkspace, Inc. $TALK

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Talkspace, Inc. (NASDAQ:TALK) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 427,450 shares of the company’s stock, valued at approximately $2,212,000. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.26% of Talkspace at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TALK. Arrowstreet Capital Limited Partnership boosted its position in 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 acquiring an additional 855,015 shares during the period. Capula Management Ltd acquired a new position in shares of Talkspace in the 1st quarter valued at about $2,588,000. Sei Investments Co. acquired a new position in shares of Talkspace in the 1st quarter valued at about $106,000. Dimensional Fund Advisors LP lifted its position in shares of Talkspace by 12.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,711,641 shares of the company’s stock worth $14,033,000 after purchasing an additional 295,984 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Talkspace by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 364,490 shares of the company’s stock worth $1,886,000 after purchasing an additional 14,303 shares in the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

Talkspace Price Performance

NASDAQ TALK opened at $5.21 on Friday. Talkspace, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $5.25. The stock’s 50-day moving average is $5.21 and its two-hundred day moving average is $4.86. The firm has a market cap of $872.74 million, a P/E ratio of 521.52 and a beta of 1.07.

Talkspace (NASDAQ:TALK) last released 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). The company 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, equities analysts expect that Talkspace, Inc. will post 0.13 EPS for the current year.

Insiders Place Their Bets

In other Talkspace news, insider John Charles Reilly sold 40,289 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $5.20, for a total transaction of $209,502.80. Following the completion of the sale, the insider owned 1,017,686 shares of the company’s stock, valued at $5,291,967.20. This 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 available through the SEC website. Company insiders own 23.50% of the company’s stock.

Analyst Ratings Changes

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