First Trust Advisors LP Purchases 596,501 Shares of LifeStance Health Group, Inc. $LFST

First Trust Advisors LP lifted its holdings in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) by 127.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,066,191 shares of the company's stock after buying an additional 596,501 shares during the period. First Trust Advisors LP owned approximately 0.27% of LifeStance Health Group worth $6,792,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LFST. Assetmark Inc. boosted its position in LifeStance Health Group by 17.0% in the first quarter. Assetmark Inc. now owns 9,419 shares of the company's stock worth $60,000 after purchasing an additional 1,367 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of 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 worth $885,000 after purchasing an additional 1,966 shares during the period. Vident Advisory LLC raised its stake in shares of LifeStance Health Group by 12.7% during the 2nd quarter. Vident Advisory LLC now owns 21,732 shares of the company's stock worth $112,000 after purchasing an additional 2,447 shares during the period. Xponance LLC boosted its holdings in shares of LifeStance Health Group by 26.4% in the 4th quarter. Xponance LLC now owns 13,144 shares of the company's stock worth $93,000 after buying an additional 2,745 shares during the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of LifeStance Health Group by 14.8% in the 1st 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 last quarter. 85.50% of the stock is owned by institutional investors.

LifeStance Health Group Stock Performance

Shares of LFST opened at $10.48 on Monday. LifeStance Health Group, Inc. has a 52-week low of $3.74 and a 52-week high of $11.76. The stock's 50-day simple moving average is $9.65 and its 200 day simple moving average is $7.94. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 174.67 and a beta of 1.14.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.03. The company had revenue of $403.48 million during the quarter, compared to analyst estimates of $387.46 million. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The firm's revenue for the quarter was up 21.2% compared to the same quarter last year. Research analysts forecast that LifeStance Health Group, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity

In related news, Director Eric Shuey sold 243,362 shares of LifeStance Health Group stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total transaction of $1,951,763.24. Following the completion of the sale, the director owned 867,562 shares of the company's stock, valued at approximately $6,957,847.24. This trade represents a 21.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $9,059,633.81. Following the completion of the sale, the director directly owned 539,763 shares in the company, valued at $5,467,799.19. This represents a 62.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,687,394 shares of company stock worth $63,579,701 in the last three months. Corporate insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LFST shares. Wall Street Zen lowered shares of LifeStance Health Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. Weiss Ratings reissued a "hold (c-)" rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. 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. JPMorgan Chase & Co. boosted their target price on LifeStance Health Group from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Finally, 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 target on the stock. One 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 stock. According to data from MarketBeat.com, LifeStance Health Group presently has an average rating of "Moderate Buy" and an average target price of $11.50.

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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