Canada Pension Plan Investment Board Makes New Investment in LifeStance Health Group, Inc. $LFST

Key Points

• Canada Pension Plan Investment Board acquired 149,000 LifeStance Health Group shares in the second quarter, valued at approximately $1.6 million. Institutional investors collectively own 85.5% of LFST.
• LifeStance reported quarterly revenue of $435.35 million, up 26.1% year over year and above expectations, while earnings of $0.06 per share beat estimates by $0.03.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $12.38, but insiders sold roughly 14.6 million shares worth $155 million over the past three months.

Canada Pension Plan Investment Board acquired a new stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 149,000 shares of the company's stock, valued at approximately $1,596,000.

Other institutional investors have also made changes to their positions in the company. Assetmark Inc. lifted its position in shares of LifeStance Health Group by 17.0% in the 1st quarter. Assetmark Inc. now owns 9,419 shares of the company's stock valued at $60,000 after acquiring an additional 1,367 shares in the last quarter. California State Teachers Retirement System raised its stake in LifeStance Health Group by 1.6% during the 4th quarter. California State Teachers Retirement System now owns 125,682 shares of the company's stock valued at $885,000 after purchasing an additional 1,966 shares during the period. Vident Advisory LLC raised its stake in LifeStance Health Group by 12.7% during the 2nd quarter. Vident Advisory LLC now owns 21,732 shares of the company's stock valued at $112,000 after purchasing an additional 2,447 shares during the period. Xponance LLC lifted its holdings in shares of LifeStance Health Group by 26.4% in the fourth quarter. Xponance LLC now owns 13,144 shares of the company's stock valued at $93,000 after purchasing an additional 2,745 shares in the last quarter. Finally, Diversified Trust Co boosted its position in shares of LifeStance Health Group by 14.8% in the first quarter. Diversified Trust Co now owns 21,532 shares of the company's stock worth $137,000 after buying an additional 2,770 shares during the period. 85.50% of the stock is owned by hedge funds and other institutional investors.

LifeStance Health Group Stock Up 0.4%

LifeStance Health Group stock opened at $12.36 on Tuesday. 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. The firm's fifty day simple moving average is $11.25 and its 200-day simple moving average is $8.65. The company has a market capitalization of $4.79 billion, a P/E ratio of 95.08 and a beta of 1.14.

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

Insider Buying and Selling

In other news, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of LifeStance Health Group stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $10.62, for a total value of $144,890,858.34. Following the transaction, the insider 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Bessler sold 894,337 shares of the business'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 sale, the director owned 539,763 shares of the company's stock, valued at $5,467,799.19. The trade was a 62.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 14,629,850 shares of company stock worth $154,952,012. 3.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays upped their price target on LifeStance Health Group from $9.00 to $13.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. The Goldman Sachs Group assumed coverage on LifeStance Health Group in a research report on Friday, June 5th. They set a "neutral" rating and a $9.00 price objective for the company. KeyCorp lifted their target price on LifeStance Health Group from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. BTIG Research upped their target price on LifeStance Health Group from $16.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.38.

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.

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