LifeStance Health Group, Inc. $LFST Shares Sold by Summit Partners L P

Summit Partners L P lowered its stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 20.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,524,715 shares of the company’s stock after selling 8,407,643 shares during the period. LifeStance Health Group accounts for approximately 19.8% of Summit Partners L P’s portfolio, making the stock its 2nd biggest holding. Summit Partners L P owned 8.62% of LifeStance Health Group worth $184,386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LFST. Squarepoint Ops LLC raised its holdings in LifeStance Health Group by 259.1% in the 2nd quarter. Squarepoint Ops LLC now owns 1,360,054 shares of the company’s stock valued at $7,031,000 after acquiring an additional 981,349 shares during the last quarter. OLD National Bancorp IN purchased a new stake in shares of LifeStance Health Group in the third quarter valued at $508,000. AXQ Capital LP purchased a new stake in shares of LifeStance Health Group in the second quarter valued at $343,000. Loomis Sayles & Co. L P increased its stake in LifeStance Health Group by 4.5% in the second quarter. Loomis Sayles & Co. L P now owns 2,343,028 shares of the company’s stock valued at $12,113,000 after purchasing an additional 100,657 shares during the last quarter. Finally, TD Asset Management Inc purchased a new position in LifeStance Health Group during the second quarter worth about $780,000. Hedge funds and other institutional investors own 85.50% of the company’s stock.

Insider Buying and Selling at LifeStance Health Group

In other LifeStance Health Group news, insider Ann Varanakis sold 50,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $6.90, for a total transaction of $345,000.00. Following the transaction, the insider owned 315,610 shares in the company, valued at $2,177,709. The trade was a 13.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lisa K. Miller sold 57,240 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $6.43, for a total value of $368,053.20. Following the sale, the insider owned 261,292 shares in the company, valued at approximately $1,680,107.56. The trade was a 17.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 327,326 shares of company stock valued at $2,259,317 over the last three months. 6.60% of the stock is owned by company insiders.

LifeStance Health Group Stock Up 1.6%

LFST opened at $7.18 on Tuesday. LifeStance Health Group, Inc. has a 1 year low of $3.74 and a 1 year high of $8.30. The firm has a 50 day moving average price of $6.99 and a 200 day moving average price of $5.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $2.79 billion, a PE ratio of -239.33 and a beta of 1.12.

LifeStance Health Group (NASDAQ:LFST) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. LifeStance Health Group had a negative net margin of 0.67% and a negative return on equity of 0.62%. The company had revenue of $363.81 million during the quarter, compared to the consensus estimate of $355.06 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. LifeStance Health Group’s revenue for the quarter was up 16.3% on a year-over-year basis. Sell-side analysts expect that LifeStance Health Group, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wall Street Zen cut LifeStance Health Group from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group raised their target price on shares of LifeStance Health Group from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Zacks Research downgraded shares of LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. BMO Capital Markets started coverage on shares of LifeStance Health Group in a research report on Thursday, November 13th. They set an “outperform” rating and a $8.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LifeStance Health Group in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, LifeStance Health Group currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

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.