Jennison Associates LLC Has $65.16 Million Holdings in LifeStance Health Group, Inc. $LFST

Jennison Associates LLC boosted its stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 38.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 10,228,801 shares of the company’s stock after buying an additional 2,843,388 shares during the quarter. Jennison Associates LLC’s holdings in LifeStance Health Group were worth $65,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of LifeStance Health Group by 19,952.6% in the fourth quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock valued at $27,000 after purchasing an additional 3,791 shares in the last quarter. Bayesian Capital Management LP bought a new position in LifeStance Health Group during the 2nd quarter valued at about $52,000. Assetmark Inc. boosted its holdings in shares of 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 acquiring an additional 1,367 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in LifeStance Health Group in the fourth quarter worth $71,000. Finally, Cibc World Markets Corp acquired a new stake in LifeStance Health Group in the 4th quarter valued at about $77,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

LifeStance Health Group Stock Performance

LifeStance Health Group stock opened at $11.58 on Monday. The firm has a 50-day moving average of $9.01 and a 200-day moving average of $7.68. LifeStance Health Group, Inc. has a one year low of $3.74 and a one year high of $11.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 193.00 and a beta of 1.12.

LifeStance Health Group (NASDAQ:LFST) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The firm had revenue of $403.48 million during the quarter, compared to the consensus estimate of $387.46 million. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. On average, equities analysts expect that LifeStance Health Group, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Darren M. Black sold 5,899,661 shares of LifeStance Health Group stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total transaction of $47,315,281.22. Following the completion of the transaction, the director owned 23,310,115 shares in the company, valued at approximately $186,947,122.30. This trade represents a 20.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 value of $9,059,633.81. Following the transaction, the director 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. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 7,762,394 shares of company stock worth $64,107,859. Company insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. KeyCorp boosted their target price on LifeStance Health Group from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Zacks Research lowered LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. BTIG Research boosted their target price on LifeStance Health Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Finally, The Goldman Sachs Group initiated coverage on LifeStance Health Group in a research report on Friday, June 5th. They issued a “neutral” rating and a $9.00 price objective for the company. One equities 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

LifeStance Health Group 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.