145,000 Shares in LifeStance Health Group, Inc. $LFST Acquired by Formula Growth Ltd.

Formula Growth Ltd. bought a new position in LifeStance Health Group, Inc. (NASDAQ:LFST) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 145,000 shares of the company’s stock, valued at approximately $1,553,000.

A number of other large investors have also recently made changes to their positions in LFST. Larson Financial Group LLC increased its stake in LifeStance Health Group by 19,952.6% in the 4th quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock worth $27,000 after buying an additional 3,791 shares during the period. KBC Group NV bought a new position in LifeStance Health Group in the 1st quarter worth about $29,000. EverSource Wealth Advisors LLC increased its position in shares of LifeStance Health Group by 359.1% during the first quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock worth $44,000 after acquiring an additional 5,404 shares during the period. Bayesian Capital Management LP purchased a new position in shares of LifeStance Health Group during the second quarter worth approximately $52,000. Finally, PNC Financial Services Group Inc. raised its stake 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 valued at $59,000 after acquiring an additional 7,987 shares in the last quarter. 85.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Vukasin Paunovich sold 44,394 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $10.85, for a total value of $481,674.90. Following the sale, the chief technology officer directly owned 247,446 shares in the company, valued at approximately $2,684,789.10. This trade represents a 15.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Bessler sold 894,337 shares of LifeStance Health Group 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 transaction, the director directly owned 539,763 shares in the company, valued at approximately $5,467,799.19. The trade was a 62.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 14,629,850 shares of company stock valued at $154,952,012. Company insiders own 3.50% of the company’s stock.

LifeStance Health Group Trading Up 1.2%

Shares of NASDAQ:LFST opened at $12.30 on Friday. LifeStance Health Group, Inc. has a 12-month low of $4.77 and a 12-month high of $12.97. The business’s fifty day simple moving average is $11.13 and its 200-day simple moving average is $8.57. The company has a market capitalization of $4.77 billion, a PE ratio of 94.62 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18.

LifeStance Health Group (NASDAQ:LFST) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. LifeStance Health Group had a return on equity of 3.39% and a net margin of 3.19%.The firm had revenue of $435.35 million during the quarter, compared to analysts’ expectations of $414.58 million. During the same period in the prior year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. As a group, equities research analysts predict that LifeStance Health Group, Inc. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. KeyCorp boosted their price target on LifeStance Health Group from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, July 13th. The Goldman Sachs Group initiated coverage on LifeStance Health Group in a report on Friday, June 5th. They set a “neutral” rating and a $9.00 price objective on the stock. BTIG Research lifted their target price on LifeStance Health Group from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Canaccord Genuity Group upped their target price on LifeStance Health Group from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Zacks Research downgraded LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.38.

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.