Smithbridge Asset Management Inc. DE Purchases 84,542 Shares of LifeStance Health Group, Inc. $LFST

Smithbridge Asset Management Inc. DE increased its holdings in LifeStance Health Group, Inc. (NASDAQ:LFST) by 100.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,084 shares of the company’s stock after buying an additional 84,542 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in LifeStance Health Group were worth $1,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in LifeStance Health Group by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 17,700,041 shares of the company’s stock worth $124,608,000 after purchasing an additional 3,086,506 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of LifeStance Health Group by 27.2% during the third quarter. Dimensional Fund Advisors LP now owns 8,363,607 shares of the company’s stock worth $45,998,000 after purchasing an additional 1,790,694 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of LifeStance Health Group by 62.3% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,793,336 shares of the company’s stock worth $26,363,000 after purchasing an additional 1,839,465 shares in the last quarter. Geode Capital Management LLC increased its position in shares of LifeStance Health Group by 10.5% during the fourth quarter. Geode Capital Management LLC now owns 4,378,469 shares of the company’s stock worth $30,830,000 after purchasing an additional 416,404 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of LifeStance Health Group by 74.7% during the third quarter. Barclays PLC now owns 3,508,552 shares of the company’s stock valued at $19,297,000 after acquiring an additional 1,499,687 shares in the last quarter. 85.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Eric Shuey sold 243,362 shares of LifeStance Health Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $1,951,763.24. Following the transaction, the director directly owned 867,562 shares of the company’s stock, valued at $6,957,847.24. The trade was a 21.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Darren M. Black sold 5,899,661 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $47,315,281.22. Following the completion of the transaction, the director directly owned 23,310,115 shares in the company, valued at $186,947,122.30. This represents a 20.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,868,057 shares of company stock valued at $55,048,226 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LFST has been the topic of several research reports. Zacks Research raised LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Barclays increased their price target on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. BTIG Research increased their price target on shares of LifeStance Health Group from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wall Street Zen raised shares of LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Finally, UBS Group lifted their price target 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. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.75.

LifeStance Health Group Stock Up 2.6%

Shares of LFST opened at $7.86 on Thursday. The stock has a market capitalization of $3.05 billion, a PE ratio of 131.00 and a beta of 1.19. LifeStance Health Group, Inc. has a 1 year low of $3.74 and a 1 year high of $8.89. 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 company’s 50-day simple moving average is $7.26 and its 200-day simple moving average is $7.03.

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

LifeStance Health Group announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 25th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

LifeStance Health Group Company Profile

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.