LifeStance Health Group, Inc. $LFST Shares Sold by Summit Partners L P

Summit Partners L P decreased its position in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 20.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,524,715 shares of the company’s stock after selling 8,407,643 shares during the period. LifeStance Health Group makes up about 19.8% of Summit Partners L P’s investment portfolio, making the stock its 2nd biggest position. Summit Partners L P owned 0.09% of LifeStance Health Group worth $184,386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new stake in shares of LifeStance Health Group during the second quarter worth $52,000. Blair William & Co. IL bought a new stake in shares of LifeStance Health Group during the 2nd quarter valued at about $70,000. Public Employees Retirement System of Ohio bought a new stake in shares of LifeStance Health Group during the 2nd quarter valued at about $70,000. Vanguard Personalized Indexing Management LLC acquired a new stake in LifeStance Health Group during the third quarter worth about $72,000. Finally, Jump Financial LLC acquired a new stake in shares of LifeStance Health Group during the 2nd quarter worth approximately $79,000. 85.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other LifeStance Health Group news, Director Robert Bessler sold 119,942 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $7.04, for a total value of $844,391.68. Following the transaction, the director directly owned 1,318,983 shares of the company’s stock, valued at $9,285,640.32. This represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ann Varanakis sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $6.90, for a total value of $345,000.00. Following the sale, the insider directly owned 315,610 shares of the company’s stock, valued at $2,177,709. This trade represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 327,326 shares of company stock worth $2,259,317. Corporate insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

LFST has been the topic of a number of analyst reports. Barclays assumed coverage on shares of LifeStance Health Group in a report on Tuesday, December 9th. They issued an “overweight” rating and a $8.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of LifeStance Health Group in a research report on Monday, December 29th. BMO Capital Markets assumed coverage on shares of LifeStance Health Group in a research note on Thursday, November 13th. They issued an “outperform” rating and a $8.00 price objective on the stock. UBS Group lifted their target price on LifeStance Health Group from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, Zacks Research downgraded shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.00.

LifeStance Health Group Stock Performance

LFST stock opened at $7.18 on Tuesday. The firm has a 50 day simple moving average of $6.99 and a 200 day simple moving average of $5.84. LifeStance Health Group, Inc. has a 52 week low of $3.74 and a 52 week high of $8.30. The stock has a market cap of $2.79 billion, a P/E ratio of -239.33 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58.

LifeStance Health Group (NASDAQ:LFST) last released its earnings results on Wednesday, November 5th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $363.81 million during the quarter, compared to the consensus estimate of $355.06 million. LifeStance Health Group had a negative net margin of 0.67% and a negative return on equity of 0.62%. The company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) EPS. Research analysts anticipate that LifeStance Health Group, Inc. will post -0.18 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.