Wellington Management Group LLP purchased a new position in LifeStance Health Group, Inc. (NASDAQ:LFST – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,883,371 shares of the company’s stock, valued at approximately $30,881,000. Wellington Management Group LLP owned approximately 0.74% of LifeStance Health Group at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. Larson Financial Group LLC increased its holdings in LifeStance Health Group by 19,952.6% during the 4th quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock worth $27,000 after purchasing an additional 3,791 shares in the last quarter. KBC Group NV acquired a new stake in shares of LifeStance Health Group in the 1st quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in LifeStance Health Group by 359.1% in the first quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock valued at $44,000 after acquiring an additional 5,404 shares during the last quarter. Bayesian Capital Management LP bought a new position in LifeStance Health Group during the second quarter worth about $52,000. Finally, PNC Financial Services Group Inc. raised its stake in LifeStance Health Group by 615.3% in the first quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company’s stock valued at $59,000 after buying an additional 7,987 shares during the period. Institutional investors own 85.50% of the company’s stock.
Insider Buying and Selling at LifeStance Health Group
In other LifeStance Health Group news, COO Lisa K. Miller sold 47,912 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $10.62, for a total transaction of $144,890,858.34. Following the transaction, the insider directly owned 98,101,407 shares in the company, valued at $1,041,836,942.34. This represents a 12.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 14,671,917 shares of company stock valued at $155,493,415 in the last three months. 3.50% of the stock is owned by insiders.
LifeStance Health Group Stock Performance
LifeStance Health Group (NASDAQ:LFST – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $435.35 million for the quarter, compared to analyst estimates of $414.58 million. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.The company’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. Research analysts anticipate that LifeStance Health Group, Inc. will post 0.16 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently commented on LFST shares. KeyCorp lifted their target price on LifeStance Health Group from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. BTIG Research increased their price target on LifeStance Health Group from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. raised 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. Weiss Ratings upgraded shares of LifeStance Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.38.
Read Our Latest Stock Analysis on LifeStance Health Group
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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