Darren Black Sells 4,314,939 Shares of LifeStance Health Group (NASDAQ:LFST) Stock

LifeStance Health Group, Inc. (NASDAQ:LFST) Director Darren Black sold 4,314,939 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $7.01, for a total value of $30,247,722.39. Following the completion of the transaction, the director owned 29,209,776 shares of the company’s stock, valued at $204,760,529.76. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

LifeStance Health Group Price Performance

Shares of NASDAQ:LFST opened at $6.95 on Friday. The company has a market cap of $2.71 billion, a P/E ratio of 347.67 and a beta of 1.11. The business has a fifty day simple moving average of $7.14 and a 200-day simple moving average of $6.26. LifeStance Health Group, Inc. has a 52 week low of $3.74 and a 52 week high of $8.10. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.17.

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

LifeStance Health Group declared that its Board of Directors has approved 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 buy up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On LifeStance Health Group

Large investors have recently modified their holdings of the stock. Larson Financial Group LLC raised its holdings in shares of LifeStance Health Group by 19,952.6% during the 4th quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock valued at $27,000 after buying an additional 3,791 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of LifeStance Health Group during the second quarter valued at approximately $52,000. Krane Funds Advisors LLC purchased a new stake in shares of LifeStance Health Group during the fourth quarter valued at approximately $71,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of LifeStance Health Group during the third quarter worth $72,000. Finally, Cibc World Markets Corp acquired a new position in shares of LifeStance Health Group during the fourth quarter worth $77,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings raised shares of LifeStance Health Group from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, February 27th. Canaccord Genuity Group boosted their price target on LifeStance Health Group from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. KeyCorp raised their price objective on LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. BMO Capital Markets began coverage on LifeStance Health Group in a research note on Thursday, November 13th. They issued an “outperform” rating and a $8.00 price objective on the stock. Finally, Barclays initiated coverage on shares of LifeStance Health Group in a research report on Tuesday, December 9th. They set an “overweight” rating and a $8.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.67.

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.