Legal & General Group Plc Buys Shares of 482,402 LifeStance Health Group, Inc. $LFST

Key Points

• Legal & General Group Plc initiated a position in LifeStance Health Group by purchasing 482,402 shares worth approximately $5.17 million, while institutional investors collectively own 85.5% of the company.
• Analysts maintain a generally positive view, with LifeStance receiving a “Moderate Buy” consensus rating and an average price target of $12.38; BTIG and Canaccord recently raised their targets.
• LifeStance reported quarterly earnings of $0.06 per share, exceeding estimates, and revenue of $435.35 million, up 26.1% year over year. However, insiders sold roughly 14.6 million shares worth $155 million over the past 90 days.

Legal & General Group Plc bought a new position in LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 482,402 shares of the company's stock, valued at approximately $5,167,000. Legal & General Group Plc owned approximately 0.12% of LifeStance Health Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LFST. Assetmark Inc. increased its holdings in LifeStance Health Group by 17.0% in the 1st quarter. Assetmark Inc. now owns 9,419 shares of the company's stock worth $60,000 after buying an additional 1,367 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of LifeStance Health Group by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 125,682 shares of the company's stock worth $885,000 after acquiring an additional 1,966 shares during the period. Vident Advisory LLC raised its holdings in shares of LifeStance Health Group by 12.7% during the second 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 last quarter. Xponance LLC raised its holdings in shares of LifeStance Health Group by 26.4% during 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 during the last quarter. Finally, Diversified Trust Co lifted its position in LifeStance Health Group by 14.8% during the first quarter. Diversified Trust Co now owns 21,532 shares of the company's stock valued at $137,000 after purchasing an additional 2,770 shares during the period. 85.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LFST shares. BTIG Research increased their price target on LifeStance Health Group from $16.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Weiss Ratings upgraded LifeStance Health Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Wall Street Zen raised LifeStance Health Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 15th. The Goldman Sachs Group started coverage on LifeStance Health Group in a research note on Friday, June 5th. They set a "neutral" rating and a $9.00 price target for the company. Finally, Canaccord Genuity Group upped their price target 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, LifeStance Health Group has a consensus rating of "Moderate Buy" and a consensus price target of $12.38.

LifeStance Health Group Trading Down 0.5%

NASDAQ:LFST opened at $12.83 on Friday. LifeStance Health Group, Inc. has a one year low of $4.77 and a one year high of $13.15. The business has a fifty day moving average price of $11.44 and a 200-day moving average price of $8.77. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 98.70 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.38 and a quick ratio of 1.38.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $435.35 million for the quarter, compared to the consensus estimate of $414.58 million. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.LifeStance Health Group's quarterly revenue was up 26.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share. Sell-side analysts forecast that LifeStance Health Group, Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Tpg Gp A, Llc sold 13,643,207 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $10.62, for a total transaction of $144,890,858.34. Following the completion of the transaction, the insider directly owned 98,101,407 shares in the company, valued at approximately $1,041,836,942.34. The trade was a 12.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Bessler sold 894,337 shares of the stock in a transaction that occurred 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 directly owned 539,763 shares of the company's stock, valued at $5,467,799.19. This represents a 62.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,629,850 shares of company stock valued at $154,952,012 in the last 90 days. Corporate insiders own 3.50% of the company's stock.

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.

Want to see what other hedge funds are holding LFST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report).

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.