Legal & General Group Plc Takes Position in LifeStance Health Group, Inc. $LFST

Legal & General Group Plc bought a new position in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 482,402 shares of the company’s stock, valued at approximately $5,167,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in LifeStance Health Group by 63.4% in the 1st quarter. Royal Bank of Canada now owns 70,248 shares of the company’s stock worth $468,000 after purchasing an additional 27,244 shares during the period. AQR Capital Management LLC grew its stake in LifeStance Health Group by 223.0% during the first quarter. AQR Capital Management LLC now owns 51,500 shares of the company’s stock valued at $343,000 after acquiring an additional 35,554 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in LifeStance Health Group by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,950 shares of the company’s stock valued at $952,000 after acquiring an additional 4,169 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of LifeStance Health Group by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 615,652 shares of the company’s stock valued at $4,100,000 after purchasing an additional 11,331 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of LifeStance Health Group by 10.2% in the second quarter. JPMorgan Chase & Co. now owns 550,657 shares of the company’s stock worth $2,847,000 after buying an additional 51,154 shares in the last quarter. Institutional investors own 85.50% of the company’s stock.

Analyst Upgrades and Downgrades

LFST has been the topic of several recent research reports. Zacks Research cut LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Canaccord Genuity Group boosted their target price on shares of LifeStance Health Group from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Barclays upped their target price on shares of LifeStance Health Group from $9.00 to $13.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings upgraded LifeStance Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, KeyCorp upped their price objective on LifeStance Health Group from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.38.

LifeStance Health Group Stock Down 0.5%

Shares of NASDAQ LFST opened at $12.83 on Friday. LifeStance Health Group, Inc. has a 1 year low of $4.77 and a 1 year high of $13.15. The firm has a 50-day simple moving average of $11.44 and a two-hundred day simple moving average of $8.77. The company has a market cap of $4.98 billion, a P/E ratio of 98.70 and a beta of 1.22. 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 (NASDAQ:LFST) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.The firm had revenue of $435.35 million during the quarter, compared to analyst estimates of $414.58 million. During the same period last year, the company earned ($0.01) EPS. LifeStance Health Group’s quarterly revenue was up 26.1% compared to the same quarter last year. Research analysts anticipate that LifeStance Health Group, Inc. will post 0.16 earnings per share for the current year.

Insider Activity at LifeStance Health Group

In other news, COO Lisa K. Miller sold 47,912 shares of the firm’s 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 directly owned 281,289 shares of the company’s stock, valued at approximately $3,051,985.65. This trade represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $10.62, for a total value of $144,890,858.34. Following the completion of the sale, the insider owned 98,101,407 shares of the company’s stock, valued at $1,041,836,942.34. The trade was a 12.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 14,629,850 shares of company stock worth $154,952,012. Corporate insiders own 3.50% of the company’s stock.

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.