Bank of New York Mellon Corp Invests $11.63 Million in LifeStance Health Group, Inc. $LFST

Key Points

• Bank of New York Mellon acquired 1.09 million LifeStance shares worth approximately $11.63 million, giving it a 0.28% stake. Institutional investors collectively own 85.5% of the company.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $12.38; several firms recently raised their targets, while Zacks downgraded the stock to “Hold.”
• LifeStance beat quarterly expectations, reporting $0.06 EPS and $435.35 million in revenue, up 26.1% year over year. However, insiders sold roughly 14.6 million shares worth $155 million over the past three months.

Bank of New York Mellon Corp acquired a new stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,085,487 shares of the company's stock, valued at approximately $11,626,000. Bank of New York Mellon Corp owned 0.28% of LifeStance Health Group at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Larson Financial Group LLC increased its position in LifeStance Health Group by 19,952.6% in the fourth quarter. Larson Financial Group LLC now owns 3,810 shares of the company's stock worth $27,000 after buying an additional 3,791 shares in the last quarter. KBC Group NV purchased a new position in shares of LifeStance Health Group during the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its position in shares of LifeStance Health Group by 359.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company's stock valued at $44,000 after buying an additional 5,404 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of LifeStance Health Group during the 2nd quarter valued at approximately $52,000. Finally, PNC Financial Services Group Inc. increased its holdings in LifeStance Health Group by 615.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company's stock worth $59,000 after acquiring an additional 7,987 shares in the last quarter. 85.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LFST has been the subject of a number of recent analyst reports. Zacks Research lowered shares of LifeStance Health Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. BTIG Research raised their price objective on shares of LifeStance Health Group from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Wall Street Zen upgraded shares of LifeStance Health Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Canaccord Genuity Group upped 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. Finally, Barclays increased their price target on LifeStance Health Group from $9.00 to $13.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $12.38.

LifeStance Health Group Stock Up 1.9%

Shares of LFST stock opened at $12.60 on Wednesday. LifeStance Health Group, Inc. has a 52 week low of $4.77 and a 52 week high of $12.97. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.18. The company's fifty day simple moving average is $11.32 and its two-hundred day simple moving average is $8.69. The stock has a market cap of $4.89 billion, a P/E ratio of 96.93 and a beta of 1.22.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $435.35 million during the quarter, compared to analysts' expectations of $414.58 million. During the same quarter last year, the business posted ($0.01) EPS. The firm's revenue for the quarter was up 26.1% compared to the same quarter last year. Analysts predict that LifeStance Health Group, Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was 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 directly owned 98,101,407 shares of the company's stock, valued at $1,041,836,942.34. This trade represents a 12.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Vukasin Paunovich sold 44,394 shares of LifeStance Health Group stock in a transaction on Monday, August 10th. The stock was sold at an average price of $10.85, for a total transaction of $481,674.90. Following the transaction, the chief technology officer directly owned 247,446 shares of the company's stock, valued at $2,684,789.10. The trade was a 15.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 14,629,850 shares of company stock valued at $154,952,012. 3.50% of the stock is currently owned by company insiders.

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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