119,006 Shares in LifeStance Health Group, Inc. $LFST Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings acquired 119,006 LifeStance shares worth approximately $1.29 million in the second quarter. Institutional investors collectively own 85.5% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $12.38; several firms recently raised targets to $13.
• LifeStance exceeded quarterly expectations, reporting $0.06 EPS and $435.35 million in revenue, up 26.1% year over year. However, insiders sold roughly 14.63 million shares worth $155 million over the past 90 days.

Hsbc Holdings PLC acquired a new position in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 119,006 shares of the company's stock, valued at approximately $1,286,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in shares of 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 valued at $27,000 after acquiring an additional 3,791 shares during the period. KBC Group NV bought a new stake in shares of LifeStance Health Group in the 1st quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of LifeStance Health Group by 359.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company's stock worth $44,000 after purchasing an additional 5,404 shares during the period. Bayesian Capital Management LP purchased a new position in LifeStance Health Group in the second quarter valued at approximately $52,000. Finally, PNC Financial Services Group Inc. lifted 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 purchasing an additional 7,987 shares during the last quarter. 85.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on LFST shares. KeyCorp raised their target price on LifeStance Health Group from $11.00 to $13.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Zacks Research lowered LifeStance Health Group from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. JPMorgan Chase & Co. boosted their price objective on LifeStance Health Group from $9.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. The Goldman Sachs Group started coverage on shares of LifeStance Health Group in a report on Friday, June 5th. They set a "neutral" rating and a $9.00 price objective on the stock. Finally, Canaccord Genuity Group upped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, LifeStance Health Group presently has a consensus rating of "Moderate Buy" and an average target price of $12.38.

Insider Activity at LifeStance Health Group

In other news, COO Lisa K. Miller sold 47,912 shares of LifeStance Health Group stock in a transaction 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 completion of the sale, the chief operating officer directly owned 281,289 shares of the company's stock, valued at approximately $3,051,985.65. The trade was a 14.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Bessler sold 894,337 shares of the company's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the completion of the transaction, the director owned 539,763 shares of the company's stock, valued at $5,467,799.19. This trade represents a 62.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In 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.

LifeStance Health Group Stock Up 0.4%

LFST stock opened at $12.36 on Tuesday. The company's 50 day moving average is $11.25 and its 200 day moving average is $8.65. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 95.08 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. LifeStance Health Group, Inc. has a 1-year low of $4.77 and a 1-year high of $12.97.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. LifeStance Health Group had a net margin of 3.19% and a return on equity of 3.39%. The business had revenue of $435.35 million during the quarter, compared to analyst estimates of $414.58 million. During the same period in the previous year, the business posted ($0.01) earnings per share. LifeStance Health Group's revenue for the quarter was up 26.1% on a year-over-year basis. Sell-side analysts predict that LifeStance Health Group, Inc. will post 0.16 EPS 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.

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