Smithbridge Asset Management Inc. DE Purchases New Stake in LifeStance Health Group, Inc. (NASDAQ:LFST)

Smithbridge Asset Management Inc. DE bought a new position in shares of LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 84,542 shares of the company's stock, valued at approximately $563,000.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. grew its stake in shares of LifeStance Health Group by 124.4% during the 4th quarter. Blue Trust Inc. now owns 3,828 shares of the company's stock worth $27,000 after acquiring an additional 2,122 shares in the last quarter. Ameriprise Financial Inc. bought a new position in shares of LifeStance Health Group during the 4th quarter worth approximately $87,000. Cibc World Markets Corp acquired a new stake in shares of LifeStance Health Group in the 4th quarter valued at approximately $96,000. Forum Financial Management LP acquired a new stake in shares of LifeStance Health Group in the 4th quarter valued at approximately $110,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of LifeStance Health Group in the 4th quarter valued at approximately $128,000. 85.50% of the stock is owned by institutional investors.

Insider Transactions at LifeStance Health Group

In other news, insider Lisa K. Miller sold 18,845 shares of LifeStance Health Group stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.90, for a total transaction of $130,030.50. Following the completion of the sale, the insider now owns 339,810 shares of the company's stock, valued at approximately $2,344,689. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ujjwal Ramtekkar sold 16,000 shares of LifeStance Health Group stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $5.94, for a total value of $95,040.00. Following the sale, the insider now directly owns 113,435 shares of the company's stock, valued at $673,803.90. This represents a 12.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,859 shares of company stock valued at $225,169. 3.20% of the stock is currently owned by corporate insiders.

LifeStance Health Group Stock Performance

LifeStance Health Group stock traded down $0.16 during mid-day trading on Friday, hitting $5.26. 1,265,582 shares of the company's stock traded hands, compared to its average volume of 1,605,805. The firm has a 50 day simple moving average of $6.17 and a two-hundred day simple moving average of $7.03. LifeStance Health Group, Inc. has a fifty-two week low of $4.64 and a fifty-two week high of $8.61. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -20.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.32 and a quick ratio of 1.32.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LFST shares. KeyCorp started coverage on LifeStance Health Group in a report on Tuesday, April 8th. They issued an "overweight" rating and a $9.00 price objective for the company. William Blair reissued an "outperform" rating on shares of LifeStance Health Group in a report on Friday, February 28th. Canaccord Genuity Group started coverage on LifeStance Health Group in a report on Thursday, April 3rd. They issued a "buy" rating and a $8.00 price objective for the company. Finally, UBS Group raised LifeStance Health Group from a "neutral" rating to a "buy" rating and set a $8.50 price objective for the company in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $8.50.

LifeStance Health Group Profile

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.