Jennison Associates LLC Has $65.16 Million Position in LifeStance Health Group, Inc. $LFST

Jennison Associates LLC lifted its stake in LifeStance Health Group, Inc. (NASDAQ:LFST) by 38.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,228,801 shares of the company’s stock after acquiring an additional 2,843,388 shares during the quarter. Jennison Associates LLC owned approximately 2.64% of LifeStance Health Group worth $65,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC boosted its position in LifeStance Health Group by 19,952.6% during the fourth 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 position in LifeStance Health Group in the 2nd quarter worth about $52,000. Assetmark Inc. raised its stake in shares of LifeStance Health Group by 17.0% during the 1st quarter. Assetmark Inc. now owns 9,419 shares of the company’s stock worth $60,000 after purchasing an additional 1,367 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of LifeStance Health Group during the 4th quarter worth about $71,000. Finally, Cibc World Markets Corp acquired a new stake in shares of LifeStance Health Group during the 4th quarter valued at about $77,000. 85.50% of the stock is currently owned by hedge funds and other institutional investors.

LifeStance Health Group Stock Performance

LFST opened at $11.58 on Monday. The company has a market cap of $4.49 billion, a PE ratio of 193.00 and a beta of 1.12. The stock has a 50-day moving average of $9.01 and a 200-day moving average of $7.68. LifeStance Health Group, Inc. has a 52-week low of $3.74 and a 52-week high of $11.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.48 and a current ratio of 1.48.

LifeStance Health Group (NASDAQ:LFST) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $387.46 million. The company’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts forecast that LifeStance Health Group, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at LifeStance Health Group

In other LifeStance Health Group news, Director Darren M. Black sold 5,899,661 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $8.02, for a total transaction of $47,315,281.22. Following the transaction, the director owned 23,310,115 shares in the company, valued at $186,947,122.30. This trade represents a 20.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Bessler sold 894,337 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $10.13, for a total transaction of $9,059,633.81. Following the completion of the sale, the director owned 539,763 shares of the company’s stock, valued at $5,467,799.19. The trade was a 62.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,762,394 shares of company stock worth $64,107,859 over the last 90 days. Insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

LFST has been the subject of several recent research reports. BTIG Research boosted their price target on LifeStance Health Group from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, May 8th. The Goldman Sachs Group began coverage on shares of LifeStance Health Group in a research report on Friday, June 5th. They set a “neutral” rating and a $9.00 price objective on the stock. Wall Street Zen upgraded shares of LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. JPMorgan Chase & Co. boosted their target price on shares of LifeStance Health Group from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of LifeStance Health Group in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.75.

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.