Polar Asset Management Partners Inc. Makes New Investment in Talkspace, Inc. $TALK

by · The Markets Daily

Polar Asset Management Partners Inc. purchased a new stake in Talkspace, Inc. (NASDAQ:TALK – Free Report) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 3,002,132 shares of the company’s stock, valued at approximately $15,536,000.

Other hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC acquired a new position in shares of Talkspace in the 2nd quarter valued at $28,000. Dynamic Technology Lab Private Ltd acquired a new stake in Talkspace during the 3rd quarter worth $35,000. Neuberger Berman Group LLC acquired a new stake in Talkspace during the 4th quarter worth $38,000. Engineers Gate Manager LP purchased a new stake in Talkspace in the second quarter valued at $39,000. Finally, Vise Technologies Inc. acquired a new position in Talkspace in the fourth quarter valued at $40,000. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Read Our Latest Research Report on TALK

Insider Buying and Selling

In related news, insider John Charles Reilly sold 40,289 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $5.20, for a total value of $209,502.80. Following the sale, the insider directly owned 1,017,686 shares in the company, valued at $5,291,967.20. The trade was a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.50% of the company’s stock.

Talkspace Price Performance

Shares of NASDAQ:TALK opened at $5.21 on Monday. The company has a market cap of $872.73 million, a price-to-earnings ratio of 521.52 and a beta of 1.07. The firm’s 50-day simple moving average is $5.21 and its 200-day simple moving average is $4.87. Talkspace, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $5.25.

Talkspace (NASDAQ:TALK – Get Free Report) last issued its 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). The business had revenue of $61.68 million for 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, research analysts forecast that Talkspace, Inc. will post 0.13 EPS for the current year.

Talkspace Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TALK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Talkspace, Inc. (NASDAQ:TALK – Free Report).