Geode Capital Management LLC Increases Stock Holdings in LifeStance Health Group, Inc. (NASDAQ:LFST)

Geode Capital Management LLC grew its holdings in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 26.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,452,178 shares of the company’s stock after purchasing an additional 729,794 shares during the period. Geode Capital Management LLC owned about 0.90% of LifeStance Health Group worth $24,170,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LFST. CIBC Asset Management Inc purchased a new stake in LifeStance Health Group during the 2nd quarter worth approximately $53,000. Algert Global LLC acquired a new position in shares of LifeStance Health Group in the second quarter worth $57,000. Victory Capital Management Inc. increased its position in shares of LifeStance Health Group by 27.0% during the second quarter. Victory Capital Management Inc. now owns 14,407 shares of the company’s stock worth $71,000 after acquiring an additional 3,063 shares during the period. Park Edge Advisors LLC acquired a new stake in shares of LifeStance Health Group in the third quarter valued at $73,000. Finally, Townsquare Capital LLC purchased a new position in LifeStance Health Group in the third quarter valued at $73,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LFST. The Goldman Sachs Group upgraded LifeStance Health Group from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, December 16th. Barclays upped their target price on shares of LifeStance Health Group from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, LifeStance Health Group presently has an average rating of “Hold” and an average price target of $8.70.

LifeStance Health Group Stock Up 0.7 %

LifeStance Health Group stock opened at $7.49 on Friday. The stock’s fifty day moving average is $7.23 and its two-hundred day moving average is $6.44. The stock has a market cap of $2.87 billion, a PE ratio of -28.81 and a beta of 1.28. LifeStance Health Group, Inc. has a 1-year low of $4.64 and a 1-year high of $9.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.32 and a quick ratio of 1.32.

LifeStance Health Group (NASDAQ:LFST) last posted its earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. LifeStance Health Group had a negative return on equity of 6.66% and a negative net margin of 7.90%. The firm had revenue of $312.70 million during the quarter, compared to analysts’ expectations of $302.25 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year. On average, sell-side analysts expect that LifeStance Health Group, Inc. will post -0.2 EPS for the current fiscal year.

Insider Transactions at LifeStance Health Group

In other news, Director Robert Bessler sold 75,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $7.54, for a total value of $565,500.00. Following the completion of the sale, the director now directly owns 1,424,447 shares of the company’s stock, valued at approximately $10,740,330.38. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.60% of the company’s stock.

LifeStance Health Group Profile

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.