Hsbc Holdings PLC Sells 73,487 Shares of LifeStance Health Group, Inc. $LFST

Hsbc Holdings PLC cut its holdings in LifeStance Health Group, Inc. (NASDAQ:LFST) by 33.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,771 shares of the company’s stock after selling 73,487 shares during the period. Hsbc Holdings PLC’s holdings in LifeStance Health Group were worth $1,032,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. grew its position in LifeStance Health Group by 6.9% in the fourth quarter. Invesco Ltd. now owns 205,486 shares of the company’s stock worth $1,447,000 after acquiring an additional 13,177 shares in the last quarter. Vident Advisory LLC raised its position in LifeStance Health Group by 148.8% during the fourth quarter. Vident Advisory LLC now owns 37,462 shares of the company’s stock valued at $264,000 after purchasing an additional 22,406 shares during the period. XTX Topco Ltd bought a new stake in shares of LifeStance Health Group in the 4th quarter valued at approximately $96,000. Zacks Investment Management lifted its stake in shares of LifeStance Health Group by 33.1% in the 4th quarter. Zacks Investment Management now owns 45,291 shares of the company’s stock valued at $319,000 after purchasing an additional 11,270 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of LifeStance Health Group by 58.8% in the 4th quarter. Janus Henderson Group PLC now owns 94,500 shares of the company’s stock worth $666,000 after purchasing an additional 35,000 shares during the period. 85.50% of the stock is currently owned by hedge funds and other institutional investors.

LifeStance Health Group Price Performance

Shares of LFST stock opened at $10.88 on Tuesday. LifeStance Health Group, Inc. has a 52-week low of $3.74 and a 52-week high of $11.62. 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 firm has a market capitalization of $4.22 billion, a P/E ratio of 181.33 and a beta of 1.12. The stock has a 50 day moving average price of $8.74 and a 200 day moving average price of $7.56.

LifeStance Health Group (NASDAQ:LFST) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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. As a group, sell-side analysts predict that LifeStance Health Group, Inc. will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LFST shares. JPMorgan Chase & Co. boosted their target price on LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Wall Street Zen raised shares of LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. 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. KeyCorp increased their target price on shares of LifeStance Health Group from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday. Finally, BTIG Research raised their target price 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. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, LifeStance Health Group currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Insider Transactions at LifeStance Health Group

In other news, Director Robert Bessler sold 894,337 shares of the business’s stock in a transaction on Friday, June 26th. The shares were 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 directly owned 539,763 shares of the company’s stock, valued at approximately $5,467,799.19. The trade was a 62.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Shuey sold 243,362 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was 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 approximately $6,957,847.24. The trade was a 21.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 7,762,394 shares of company stock worth $64,107,859. 3.50% of the stock is currently owned by insiders.

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.