LifeStance Health Group (NASDAQ:LFST) Director Sells $30,247,722.39 in Stock

LifeStance Health Group, Inc. (NASDAQ:LFST) Director Darren Black sold 4,314,939 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $7.01, for a total value of $30,247,722.39. Following the transaction, the director directly owned 29,209,776 shares in the company, valued at approximately $204,760,529.76. The trade was a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

LifeStance Health Group Stock Performance

NASDAQ LFST traded up $0.06 during trading hours on Wednesday, hitting $7.33. The company’s stock had a trading volume of 4,040,753 shares, compared to its average volume of 2,227,601. LifeStance Health Group, Inc. has a 12 month low of $3.74 and a 12 month high of $8.30. The company’s 50 day simple moving average is $7.13 and its two-hundred day simple moving average is $6.24. 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 company has a market cap of $2.86 billion, a P/E ratio of 366.68 and a beta of 1.11.

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

LifeStance Health Group announced that its board has approved a share repurchase program on Wednesday, February 25th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

LFST has been the subject of a number of recent research reports. BTIG Research boosted their price target on LifeStance Health Group from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Zacks Research cut LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of LifeStance Health Group from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Canaccord Genuity Group increased their target price on LifeStance Health Group from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings upgraded LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.67.

Institutional Trading of LifeStance Health Group

A number of institutional investors have recently bought and sold shares of LFST. Vanguard Group Inc. increased 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 valued at $124,608,000 after purchasing an additional 3,086,506 shares during the last quarter. Silversmith Partners I GP LLC purchased a new stake in shares of LifeStance Health Group in the 4th quarter valued at $100,842,000. Dimensional Fund Advisors LP lifted its position in shares of LifeStance Health Group by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,906,465 shares of the company’s stock worth $62,704,000 after purchasing an additional 542,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of LifeStance Health Group by 27.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,118,027 shares of the company’s stock worth $43,071,000 after acquiring an additional 1,324,691 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in LifeStance Health Group by 62.3% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,793,336 shares of the company’s stock worth $26,363,000 after purchasing an additional 1,839,465 shares in the last quarter. 85.50% of the stock is currently owned by institutional investors and hedge funds.

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.