State Street Corp Acquires 122,844 Shares of LifeStance Health Group, Inc. (NASDAQ:LFST)

State Street Corp lifted its holdings in LifeStance Health Group, Inc. (NASDAQ:LFST) by 4.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,750,656 shares of the company’s stock after acquiring an additional 122,844 shares during the quarter. State Street Corp owned 0.72% of LifeStance Health Group worth $19,255,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. CIBC Asset Management Inc bought a new stake in LifeStance Health Group in the second quarter worth $53,000. Algert Global LLC bought a new stake in shares of LifeStance Health Group in the 2nd quarter valued at about $57,000. Victory Capital Management Inc. boosted its holdings in LifeStance Health Group by 27.0% during the 2nd quarter. Victory Capital Management Inc. now owns 14,407 shares of the company’s stock valued at $71,000 after acquiring an additional 3,063 shares during the period. Park Edge Advisors LLC bought a new position in LifeStance Health Group during the 3rd quarter worth approximately $73,000. Finally, Townsquare Capital LLC purchased a new position in LifeStance Health Group in the 3rd quarter worth approximately $73,000. Hedge funds and other institutional investors own 85.50% of the company’s stock.

LifeStance Health Group Stock Performance

Shares of LFST stock opened at $7.26 on Tuesday. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -27.92 and a beta of 1.28. The stock has a fifty day moving average of $7.21 and a 200 day moving average of $6.39. LifeStance Health Group, Inc. has a 52 week low of $4.64 and a 52 week high of $9.20. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.19.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LFST shares. Barclays increased their price objective on LifeStance Health Group from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. The Goldman Sachs Group upgraded shares of LifeStance Health Group from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, LifeStance Health Group currently has a consensus rating of “Hold” and a consensus price target of $8.70.

Insiders Place Their Bets

In other LifeStance Health Group news, Director Robert Bessler sold 75,000 shares of the stock in a transaction on 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 transaction, the director now owns 1,424,447 shares in the company, valued at approximately $10,740,330.38. This represents a 5.00 % 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. Company insiders own 6.60% of the company’s stock.

LifeStance Health Group Company 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.