Dimensional Fund Advisors LP Purchases 1,461,215 Shares of LifeStance Health Group, Inc. $LFST

Key Points

• Dimensional Fund Advisors increased its LifeStance Health Group position by 16.4%, acquiring 1.46 million shares to own approximately 2.67% of LFST. Institutional investors collectively hold 85.5% of the stock.
• Analyst sentiment remains positive overall, with LFST carrying a consensus “Moderate Buy” rating and an average price target of $11.50; Canaccord Genuity and KeyCorp raised their targets to $13.
• Insiders sold 7.69 million shares worth approximately $63.6 million over the past 90 days, while the company’s latest quarterly results exceeded expectations with $403.5 million in revenue and $0.04 EPS.

Dimensional Fund Advisors LP raised its position in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) by 16.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,367,680 shares of the company's stock after acquiring an additional 1,461,215 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.67% of LifeStance Health Group worth $66,038,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. KBC Group NV purchased a new position in shares of LifeStance Health Group in the first quarter worth approximately $29,000. Jennison Associates LLC boosted its stake in shares of LifeStance Health Group by 38.5% during the 1st quarter. Jennison Associates LLC now owns 10,228,801 shares of the company's stock worth $65,157,000 after acquiring an additional 2,843,388 shares during the last quarter. Assetmark Inc. grew its position in shares of LifeStance Health Group by 17.0% during 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 during the period. Fifth Third Bancorp purchased a new stake in shares of LifeStance Health Group in the 1st quarter worth $755,000. Finally, Hsbc Holdings PLC raised its holdings in LifeStance Health Group by 6.0% in the 1st quarter. Hsbc Holdings PLC now owns 155,585 shares of the company's stock worth $976,000 after purchasing an additional 8,814 shares during the period. 85.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on LFST. The Goldman Sachs Group began coverage on LifeStance Health Group in a research report on Friday, June 5th. They set a "neutral" rating and a $9.00 price objective on the stock. 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. Canaccord Genuity Group raised their price objective on shares of LifeStance Health Group from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. KeyCorp increased their price target on LifeStance Health Group from $11.00 to $13.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Finally, Wall Street Zen downgraded LifeStance Health Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.50.

Insider Buying and Selling at LifeStance Health Group

In other LifeStance Health Group news, Director Darren M. Black sold 5,899,661 shares of LifeStance Health Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $47,315,281.22. Following the completion of the transaction, the director directly owned 23,310,115 shares of the company's stock, valued at $186,947,122.30. This trade represents a 20.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Bessler sold 894,337 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $10.13, for a total value of $9,059,633.81. Following the completion of the sale, the director directly 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 disclosure for this sale is available in the SEC filing. Insiders sold 7,687,394 shares of company stock worth $63,579,701 over the last 90 days. 3.50% of the stock is owned by insiders.

LifeStance Health Group Stock Down 2.4%

Shares of LFST stock opened at $10.48 on Friday. The company's fifty day simple moving average is $9.65 and its two-hundred day simple moving average is $7.94. LifeStance Health Group, Inc. has a 52 week low of $3.74 and a 52 week high of $11.76. The stock has a market cap of $4.06 billion, a P/E ratio of 174.67 and a beta of 1.12. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $403.48 million for the quarter, compared to analysts' expectations of $387.46 million. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.LifeStance Health Group's revenue for the quarter was up 21.2% compared to the same quarter last year. Analysts predict that LifeStance Health Group, Inc. will post 0.12 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.