BlackRock Inc. Makes New $389.29 Million Investment in LifeStance Health Group, Inc. $LFST

Key Points

• BlackRock initiated a major LifeStance Health Group position, purchasing 36.35 million shares worth approximately $389.3 million, equivalent to a 9.37% stake. Institutional investors collectively own 85.5% of LFST.
• LifeStance reported quarterly EPS of $0.06, beating estimates by $0.03, while revenue rose 26.1% year over year to $435.35 million. The stock opened at $12.28, near its 52-week high of $12.97.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $12.38; recent targets range from $13 to $18. However, insiders sold roughly $155 million of shares during the quarter.

BlackRock Inc. bought a new stake in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 36,348,507 shares of the company's stock, valued at approximately $389,293,000. BlackRock Inc. owned 9.37% of LifeStance Health Group as of its most recent SEC filing.

Several other large investors have also modified their holdings of LFST. Royal Bank of Canada grew its holdings in shares of LifeStance Health Group by 63.4% during 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 lifted its position in LifeStance Health Group by 223.0% in the first quarter. AQR Capital Management LLC now owns 51,500 shares of the company's stock valued at $343,000 after buying an additional 35,554 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in LifeStance Health Group by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,950 shares of the company's stock worth $952,000 after buying an additional 4,169 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 worth $4,100,000 after buying an additional 11,331 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of LifeStance Health Group by 10.2% during the second quarter. JPMorgan Chase & Co. now owns 550,657 shares of the company's stock valued at $2,847,000 after acquiring an additional 51,154 shares during the last quarter. Institutional investors and hedge funds own 85.50% of the company's stock.

Insider Buying and Selling

In other news, Director Robert Bessler sold 894,337 shares of LifeStance Health Group stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $10.13, for a total value of $9,059,633.81. Following the completion of the transaction, the director owned 539,763 shares in the company, valued at approximately $5,467,799.19. This trade represents a 62.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Lisa K. Miller sold 47,912 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $10.85, for a total value 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 represents a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,629,850 shares of company stock worth $154,952,012 in the last quarter. Company insiders own 3.50% of the company's stock.

LifeStance Health Group Stock Performance

NASDAQ:LFST opened at $12.28 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 fifty day simple moving average of $10.99 and a two-hundred day simple moving average of $8.49. 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 has a market cap of $4.76 billion, a price-to-earnings ratio of 94.47 and a beta of 1.14.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $435.35 million for the quarter, compared to analysts' expectations of $414.58 million. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.The company's revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) earnings per share. As a group, equities analysts anticipate that LifeStance Health Group, Inc. will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on LFST. Canaccord Genuity Group upped their price objective 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. Weiss Ratings upgraded shares of LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their target price on shares of LifeStance Health Group from $9.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, August 14th. Zacks Research lowered LifeStance Health Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Finally, BTIG Research upped their price target on LifeStance Health Group from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, LifeStance Health Group has an average rating of "Moderate Buy" and a consensus price target of $12.38.

LifeStance Health Group Company 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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