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

Smithbridge Asset Management Inc. DE lowered its holdings in LifeStance Health Group, Inc. (NASDAQ:LFST) by 50.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 84,542 shares of the company’s stock after selling 84,542 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in LifeStance Health Group were worth $539,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of LifeStance Health Group by 19.5% in the third quarter. Vanguard Group Inc. now owns 14,613,535 shares of the company’s stock valued at $80,374,000 after buying an additional 2,383,728 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in LifeStance Health Group during the 3rd quarter worth about $1,040,000. Everhart Financial Group Inc. bought a new stake in LifeStance Health Group during the 4th quarter worth about $787,000. Integral Health Asset Management LLC bought a new stake in LifeStance Health Group during the 3rd quarter worth about $8,250,000. Finally, Silversmith Partners I GP LLC acquired a new stake in LifeStance Health Group in the 4th quarter valued at about $100,842,000. Institutional investors own 85.50% of the company’s stock.

LifeStance Health Group Price Performance

Shares of LFST stock opened at $11.27 on Friday. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 187.83 and a beta of 1.12. LifeStance Health Group, Inc. has a 12 month low of $3.74 and a 12 month high of $11.62. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $8.24 and a 200 day moving average price of $7.37.

LifeStance Health Group (NASDAQ:LFST) last released 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 the consensus estimate of $387.46 million. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. LifeStance Health Group’s revenue was up 21.2% on a year-over-year basis. Research analysts expect that LifeStance Health Group, Inc. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LFST. Jefferies Financial Group raised shares of LifeStance Health Group to a “strong-buy” rating in a research note on Thursday, March 12th. The Goldman Sachs Group started coverage on shares of LifeStance Health Group in a research note on Friday, June 5th. They set a “neutral” rating and a $9.00 price target on the stock. BTIG Research raised their price target on shares of LifeStance Health Group from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, May 8th. Zacks Research upgraded shares of LifeStance Health Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Wall Street Zen downgraded LifeStance Health Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 13th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, LifeStance Health Group has an average rating of “Moderate Buy” and a consensus target price of $9.75.

Insider Buying and Selling

In related news, Director Darren M. Black sold 5,899,661 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 23,310,115 shares of the company’s stock, valued at $186,947,122.30. The trade was a 20.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Eric Shuey sold 243,362 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $1,951,763.24. Following the completion of the transaction, the director owned 867,562 shares in the company, valued at $6,957,847.24. This represents a 21.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,762,394 shares of company stock valued at $64,107,859 over the last ninety days. Insiders own 3.20% of the company’s stock.

LifeStance Health Group 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.