Ieq Capital LLC bought a new stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 180,656 shares of the company’s stock, valued at approximately $1,935,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in LifeStance Health Group during the 2nd quarter worth about $389,293,000. Vanguard Group Inc. boosted its holdings in shares of LifeStance Health Group by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company’s stock worth $124,608,000 after buying an additional 3,086,506 shares during the period. Silversmith Partners I GP LLC purchased a new position in shares of LifeStance Health Group in the fourth quarter worth approximately $100,842,000. Dimensional Fund Advisors LP raised its holdings in shares of LifeStance Health Group by 16.4% during the first quarter. Dimensional Fund Advisors LP now owns 10,367,680 shares of the company’s stock valued at $66,038,000 after acquiring an additional 1,461,215 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of LifeStance Health Group by 38.5% during the first quarter. Jennison Associates LLC now owns 10,228,801 shares of the company’s stock valued at $65,157,000 after acquiring an additional 2,843,388 shares during the period. Institutional investors and hedge funds own 85.50% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on LFST shares. Zacks Research downgraded shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. The Goldman Sachs Group started coverage on LifeStance Health Group in a research report on Friday, June 5th. They issued a “neutral” rating and a $9.00 target price for the company. JPMorgan Chase & Co. lifted their price target on LifeStance Health Group from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, August 14th. BTIG Research upped their price target on LifeStance Health Group from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Canaccord Genuity Group lifted their target price on LifeStance Health Group from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.38.
Insider Buying and Selling at LifeStance Health Group
In other news, Director Robert Bessler sold 894,337 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the transaction, the director owned 539,763 shares in the company, valued at $5,467,799.19. This represents a 62.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Lisa K. Miller sold 47,912 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $10.85, for a total transaction of $519,845.20. Following the transaction, the chief operating officer owned 281,289 shares in the company, valued at $3,051,985.65. This represents a 14.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,629,850 shares of company stock worth $154,952,012 in the last ninety days. Insiders own 3.50% of the company’s stock.
LifeStance Health Group Stock Performance
Shares of NASDAQ LFST opened at $12.28 on Wednesday. The business’s 50-day moving average price is $10.99 and its two-hundred day moving average price is $8.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38. LifeStance Health Group, Inc. has a one year low of $4.77 and a one year high of $12.97. The company has a market capitalization of $4.76 billion, a P/E ratio of 94.47 and a beta of 1.14.
LifeStance Health Group (NASDAQ:LFST – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $435.35 million during the quarter, compared to the consensus estimate of $414.58 million. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.The business’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. Analysts anticipate that LifeStance Health Group, Inc. will post 0.16 earnings per share for the current fiscal year.
LifeStance Health Group Profile
LifeStance Health Group (NASDAQ:LFST) is a leading provider of outpatient mental health services in the United States. Headquartered in New York City, the company operates a growing network of clinics that deliver integrated, patient-centered psychological and psychiatric care. LifeStance’s mission is to expand access to high-quality mental health treatment by combining evidence-based therapy modalities with personalized treatment plans.
The company’s service offerings include individual, family, and group psychotherapy, psychiatric medication management, psychological assessment, and telehealth services.
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