Insider Selling: LifeStance Health Group (NASDAQ:LFST) Director Sells 75,000 Shares of Stock

Key Points

• Director Robert Bessler sold 75,000 shares of LifeStance Health Group on May 7 at an average price of $8.55, totaling about $641,250. After the sale, he still owned 1,236,948 shares.
• LifeStance reported stronger-than-expected quarterly results, posting EPS of $0.04 versus the $0.01 estimate and revenue of $403.48 million, up 21.2% year over year.
• Analysts remain constructive on the stock, with a consensus rating of “Buy” and an average price target of $10.00, while the company also has a $100 million share buyback authorization in place.

LifeStance Health Group, Inc. (NASDAQ:LFST - Get Free Report) Director Robert Bessler sold 75,000 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $8.55, for a total value of $641,250.00. Following the completion of the sale, the director owned 1,236,948 shares in the company, valued at $10,575,905.40. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Robert Bessler also recently made the following trade(s):

• On Friday, April 24th, Robert Bessler sold 62,147 shares of LifeStance Health Group stock. The shares were sold at an average price of $7.05, for a total value of $438,136.35.
• On Thursday, April 23rd, Robert Bessler sold 7,752 shares of LifeStance Health Group stock. The shares were sold at an average price of $7.00, for a total value of $54,264.00.
• On Tuesday, April 21st, Robert Bessler sold 5,101 shares of LifeStance Health Group stock. The shares were sold at an average price of $7.01, for a total value of $35,758.01.

LifeStance Health Group Trading Down 0.4%

LFST stock traded down $0.03 during trading on Monday, hitting $7.67. The company had a trading volume of 12,999,184 shares, compared to its average volume of 3,170,368. The business has a 50-day moving average of $6.80 and a 200-day moving average of $6.68. LifeStance Health Group, Inc. has a one year low of $3.74 and a one year high of $8.89. The stock has a market cap of $2.97 billion, a PE ratio of 127.83 and a beta of 1.20. 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 (NASDAQ:LFST - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. LifeStance Health Group had a return on equity of 1.55% and a net margin of 1.55%.The business had revenue of $403.48 million for the quarter, compared to analysts' expectations of $387.46 million. The firm's revenue was up 21.2% compared to the same quarter last year. Research analysts predict that LifeStance Health Group, Inc. will post 0.08 earnings per share for the current fiscal year.

LifeStance Health Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 25th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On LifeStance Health Group

A number of institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of LifeStance Health Group by 615.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company's stock worth $59,000 after purchasing an additional 7,987 shares during the period. Dimensional Fund Advisors LP raised its position in shares of LifeStance Health Group by 16.4% during the first quarter. Dimensional Fund Advisors LP now owns 10,367,680 shares of the company's stock worth $66,038,000 after purchasing an additional 1,461,215 shares during the period. KBC Group NV acquired a new position in shares of LifeStance Health Group during the first quarter worth approximately $29,000. Jennison Associates LLC raised its position in shares of LifeStance Health Group by 38.5% during the first quarter. Jennison Associates LLC now owns 10,228,801 shares of the company's stock worth $65,157,000 after purchasing an additional 2,843,388 shares during the period. Finally, Assetmark Inc. raised its position in shares of LifeStance Health Group by 17.0% during 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 period. 85.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LFST has been the topic of a number of research analyst reports. Wall Street Zen upgraded LifeStance Health Group from a "hold" rating to a "buy" rating in a report on Sunday, February 8th. UBS Group increased their price target on LifeStance Health Group from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Zacks Research upgraded LifeStance Health Group from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Barclays increased their price target on LifeStance Health Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a report on Friday, March 6th. Finally, BTIG Research increased their price target on LifeStance Health Group from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $10.00.

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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