JPMorgan Chase & Co. Sells 310,004 Shares of LifeStance Health Group, Inc. $LFST

Key Points

• JPMorgan cut its stake in LifeStance by 56.3% in Q3, selling 310,004 shares and retaining 240,653 shares (about 0.06% of the company) worth $1.324 million after the sale.
• Director Darren M. Black sold 4,314,939 shares at an average $7.01 for roughly $30.25 million, trimming his holding by 12.87% but still owning 29,209,776 shares; corporate insiders now own 3.20% of the stock.
• LifeStance approved a $100 million buyback (up to 3.6% of shares) after reporting Q results that missed EPS estimates ($0.03 vs. $0.05) while revenue rose 17.4%, and analysts have raised targets to an average $9.83 with a "Moderate Buy" consensus.

JPMorgan Chase & Co. lowered its position in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) by 56.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 240,653 shares of the company's stock after selling 310,004 shares during the period. JPMorgan Chase & Co. owned 0.06% of LifeStance Health Group worth $1,324,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Bayesian Capital Management LP bought a new position in shares of LifeStance Health Group in the 2nd quarter worth about $52,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of LifeStance Health Group in the 3rd quarter worth about $72,000. CIBC Bancorp USA Inc. bought a new position in shares of LifeStance Health Group in the 3rd quarter worth about $78,000. PharVision Advisers LLC bought a new position in shares of LifeStance Health Group in the 3rd quarter worth about $84,000. Finally, Jump Financial LLC bought a new position in shares of LifeStance Health Group in the 2nd quarter worth about $79,000. Institutional investors own 85.50% of the company's stock.

Insider Buying and Selling at LifeStance Health Group

In related news, Director Darren M. Black sold 4,314,939 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $7.01, for a total transaction of $30,247,722.39. Following the completion of the transaction, the director directly owned 29,209,776 shares of the company's stock, valued at approximately $204,760,529.76. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

LFST has been the subject of several research reports. KeyCorp increased their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a research note on Thursday, February 26th. UBS Group raised their price objective on LifeStance Health Group from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. BTIG Research raised their price objective on LifeStance Health Group from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Jefferies Financial Group raised LifeStance Health Group to a "strong-buy" rating in a research report on Thursday, March 12th. Finally, Weiss Ratings raised LifeStance Health Group from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $9.83.

LifeStance Health Group Stock Down 0.8%

LifeStance Health Group stock opened at $6.49 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.17. LifeStance Health Group, Inc. has a 12 month low of $3.74 and a 12 month high of $8.09. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 324.66 and a beta of 1.13. The stock has a fifty day simple moving average of $6.77 and a two-hundred day simple moving average of $6.45.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). LifeStance Health Group had a net margin of 0.68% and a return on equity of 0.65%. The company had revenue of $382.20 million for the quarter, compared to the consensus estimate of $378.51 million. During the same period in the prior year, the firm posted ($0.01) EPS. The business's revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts predict that LifeStance Health Group, Inc. will post -0.18 EPS for the current fiscal year.

LifeStance Health Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 25th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

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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