LifeStance Health Group, Inc. $LFST Stock: Summit Partners L P Trims Holdings

Summit Partners L P trimmed its position in LifeStance Health Group, Inc. (NASDAQ:LFST) by 28.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,623,824 shares of the company’s stock after selling 6,686,291 shares during the quarter. LifeStance Health Group comprises approximately 40.7% of Summit Partners L P’s portfolio, making the stock its 2nd largest holding. Summit Partners L P’s holdings in LifeStance Health Group were worth $199,985,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LFST. Profund Advisors LLC boosted its holdings in LifeStance Health Group by 7.1% in the third quarter. Profund Advisors LLC now owns 11,944 shares of the company’s stock worth $144,000 after acquiring an additional 788 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of LifeStance Health Group by 24.2% during the third quarter. ProShare Advisors LLC now owns 34,469 shares of the company’s stock valued at $415,000 after acquiring an additional 6,727 shares in the last quarter. Vise Technologies Inc. increased its holdings in shares of LifeStance Health Group by 38.8% during the third quarter. Vise Technologies Inc. now owns 22,511 shares of the company’s stock valued at $271,000 after acquiring an additional 6,294 shares in the last quarter. State of Wyoming raised its position in shares of LifeStance Health Group by 10.4% during the third quarter. State of Wyoming now owns 75,836 shares of the company’s stock worth $912,000 after purchasing an additional 7,158 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of LifeStance Health Group by 57.3% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 36,500 shares of the company’s stock worth $439,000 after purchasing an additional 13,300 shares during the period. 85.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at LifeStance Health Group

In related news, COO Lisa Miller sold 47,912 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $10.85, for a total transaction of $519,845.20. Following the transaction, the chief operating officer directly owned 281,289 shares in the company, valued at approximately $3,051,985.65. The trade was a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vukasin Paunovich sold 44,394 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $10.85, for a total transaction of $481,674.90. Following the completion of the sale, the chief technology officer directly owned 247,446 shares of the company’s stock, valued at $2,684,789.10. The trade was a 15.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,777,580 shares of company stock valued at $146,433,781 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LFST shares. JPMorgan Chase & Co. increased their target price on LifeStance Health Group from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Canaccord Genuity Group boosted their price target on shares of LifeStance Health Group from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Weiss Ratings upgraded shares of LifeStance Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Barclays upped their price objective on shares of LifeStance Health Group from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Finally, BTIG Research upped their price objective on shares of LifeStance Health Group from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.12.

LifeStance Health Group Price Performance

Shares of NASDAQ:LFST opened at $13.40 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $12.48 and its two-hundred day simple moving average is $9.34. LifeStance Health Group, Inc. has a 1-year low of $4.77 and a 1-year high of $13.76. The stock has a market cap of $5.12 billion, a PE ratio of 103.08 and a beta of 1.35.

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

LifeStance Health Group Company Profile

LifeStance Health Group, Inc is a provider of outpatient behavioral health services in the United States. Through a network of clinicians and care centers, the company offers mental health care through in-person appointments and telehealth visits.

LifeStance’s services include individual, couples and family therapy; psychiatric evaluation and medication management; psychological and neuropsychological testing; and treatment for conditions such as depression, anxiety, attention-deficit/hyperactivity disorder, bipolar disorder, post-traumatic stress disorder and other behavioral health concerns.