Principal Financial Group Inc. Reduces Stock Position in LifeStance Health Group, Inc. $LFST

Principal Financial Group Inc. reduced its position in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 4.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,077,655 shares of the company’s stock after selling 137,665 shares during the quarter. Principal Financial Group Inc.’s holdings in LifeStance Health Group were worth $19,605,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in LifeStance Health Group by 19,952.6% in the 4th quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock valued at $27,000 after purchasing an additional 3,791 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of LifeStance Health Group during the 2nd quarter worth approximately $52,000. Krane Funds Advisors LLC purchased a new stake in shares of LifeStance Health Group during the 4th quarter valued at approximately $71,000. Cibc World Markets Corp purchased a new stake in shares of LifeStance Health Group during the 4th quarter valued at approximately $77,000. Finally, Qtron Investments LLC purchased a new stake in shares of LifeStance Health Group during the 4th quarter valued at approximately $83,000. 85.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LFST has been the subject of several analyst reports. KeyCorp increased their price objective on LifeStance Health Group from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. BTIG Research lifted their target price on LifeStance Health Group from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, May 8th. The Goldman Sachs Group assumed coverage on LifeStance Health Group in a research note on Friday, June 5th. They issued a “neutral” rating and a $9.00 price target on the stock. Barclays upped their price target on LifeStance Health Group from $9.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen upgraded LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.12.

LifeStance Health Group Stock Performance

NASDAQ:LFST opened at $11.45 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $4.44 billion, a P/E ratio of 190.83 and a beta of 1.12. The company has a 50 day moving average price of $9.15 and a 200 day moving average price of $7.74. LifeStance Health Group, Inc. has a fifty-two week low of $3.74 and a fifty-two week high of $11.76.

LifeStance Health Group (NASDAQ:LFST) last announced its earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $403.48 million for the quarter, compared to analyst estimates of $387.46 million. LifeStance Health Group had a return on equity of 1.56% and a net margin of 1.55%.The company’s revenue was up 21.2% on a year-over-year basis. Equities research analysts forecast that LifeStance Health Group, Inc. will post 0.12 EPS for the current year.

Insider Transactions at LifeStance Health Group

In related news, Director Eric Shuey sold 243,362 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $1,951,763.24. Following the sale, the director owned 867,562 shares in the company, valued at approximately $6,957,847.24. The trade was a 21.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Darren M. Black sold 5,899,661 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total value of $47,315,281.22. Following the transaction, the director directly owned 23,310,115 shares in the company, valued at approximately $186,947,122.30. The trade was a 20.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,757,293 shares of company stock worth $64,072,101 over the last ninety days. Company insiders own 3.50% of the company’s stock.

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.