LifeStance Health Group, Inc. $LFST Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 19.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,613,535 shares of the company’s stock after buying an additional 2,383,728 shares during the period. Vanguard Group Inc.’s holdings in LifeStance Health Group were worth $80,374,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bayesian Capital Management LP bought a new position in shares of LifeStance Health Group in the second quarter valued at $52,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of LifeStance Health Group in the 3rd quarter worth $72,000. Jump Financial LLC acquired a new stake in shares of LifeStance Health Group during the second quarter worth $79,000. Prudential Financial Inc. lifted its holdings in shares of LifeStance Health Group by 68.6% during the second quarter. Prudential Financial Inc. now owns 17,065 shares of the company’s stock valued at $88,000 after purchasing an additional 6,945 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of LifeStance Health Group in the 3rd quarter valued at $89,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen upgraded LifeStance Health Group from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Canaccord Genuity Group lifted their target price on shares of LifeStance Health Group from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. BMO Capital Markets began coverage on shares of LifeStance Health Group in a research report on Thursday, November 13th. They issued an “outperform” rating and a $8.00 price target for the company. UBS Group raised their price objective on shares of LifeStance Health Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, BTIG Research lifted their price objective on shares of LifeStance Health Group from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, LifeStance Health Group has an average rating of “Moderate Buy” and an average target price of $9.67.

LifeStance Health Group Price Performance

NASDAQ LFST opened at $6.95 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 347.67 and a beta of 1.11. The company has a 50 day simple moving average of $7.14 and a 200-day simple moving average of $6.26. LifeStance Health Group, Inc. has a 52-week low of $3.74 and a 52-week high of $8.10.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). LifeStance Health Group had a net margin of 0.68% and a return on equity of 0.65%. The company had revenue of $382.20 million during the quarter, compared to analyst estimates of $378.51 million. During the same quarter in the prior year, the company posted ($0.01) EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities research analysts predict that LifeStance Health Group, Inc. will post -0.18 earnings per share for the current fiscal year.

LifeStance Health Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at LifeStance Health Group

In related news, Director Darren M. Black sold 4,314,939 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $7.01, for a total transaction of $30,247,722.39. Following the completion of the sale, the director directly owned 29,209,776 shares in the company, valued at approximately $204,760,529.76. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Bessler sold 119,942 shares of LifeStance Health Group stock in a transaction on Friday, December 19th. The shares were sold at an average price of $7.04, for a total value of $844,391.68. Following the sale, the director directly owned 1,318,983 shares of the company’s stock, valued at approximately $9,285,640.32. The trade was a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 4,585,025 shares of company stock valued at $32,138,986. 3.20% of the stock is owned by insiders.

About LifeStance Health Group

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.