Insider Selling: LifeStance Health Group (NASDAQ:LFST) Director Sells $30,247,722.39 in Stock

LifeStance Health Group, Inc. (NASDAQ:LFST) Director Darren Black sold 4,314,939 shares of LifeStance Health Group stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $7.01, for a total transaction of $30,247,722.39. Following the completion of the transaction, the director directly owned 29,209,776 shares in the company, valued at $204,760,529.76. This represents a 12.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

LifeStance Health Group Stock Down 0.3%

NASDAQ LFST opened at $6.93 on Friday. LifeStance Health Group, Inc. has a 12 month low of $3.74 and a 12 month high of $8.09. The company has a market capitalization of $2.70 billion, a P/E ratio of 346.67 and a beta of 1.11. The company’s 50 day simple moving average is $7.13 and its 200 day simple moving average is $6.27. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.65 and a quick ratio of 1.65.

LifeStance Health Group (NASDAQ:LFST) last issued its earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $382.20 million for the quarter, compared to the consensus estimate of $378.51 million. LifeStance Health Group had a return on equity of 0.65% and a net margin of 0.68%.The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) earnings per share. Equities research analysts expect that LifeStance Health Group, Inc. will post -0.18 earnings per share for the current fiscal year.

LifeStance Health Group announced that its board has authorized a stock repurchase program on Wednesday, February 25th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on LFST. BTIG Research upped their price target on shares of LifeStance Health Group from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Weiss Ratings upgraded LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, February 27th. UBS Group lifted their price objective on shares of LifeStance Health Group from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. KeyCorp upped their target price on LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Finally, Barclays upped their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, LifeStance Health Group presently has an average rating of “Moderate Buy” and an average price target of $9.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LFST. 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 worth $27,000 after acquiring an additional 3,791 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of LifeStance Health Group during the 2nd quarter valued at $52,000. Krane Funds Advisors LLC acquired a new position in LifeStance Health Group in the fourth quarter valued at about $71,000. Vanguard Personalized Indexing Management LLC bought a new stake in LifeStance Health Group in the third quarter valued at approximately $72,000. Finally, Cibc World Markets Corp bought a new stake in LifeStance Health Group in the fourth quarter valued at approximately $77,000. 85.50% of the stock is owned by institutional investors.

About LifeStance Health Group

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.