Jennison Associates LLC Acquires 184,896 Shares of LifeStance Health Group, Inc. (NASDAQ:LFST)

Jennison Associates LLC boosted its stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 9.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,136,942 shares of the company’s stock after buying an additional 184,896 shares during the quarter. Jennison Associates LLC’s holdings in LifeStance Health Group were worth $14,959,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LFST. CIBC Asset Management Inc purchased a new stake in shares of LifeStance Health Group during the 2nd quarter worth approximately $53,000. Bessemer Group Inc. grew its holdings in LifeStance Health Group by 43.4% during the first quarter. Bessemer Group Inc. now owns 9,143 shares of the company’s stock valued at $56,000 after purchasing an additional 2,768 shares during the period. Algert Global LLC purchased a new stake in LifeStance Health Group in the second quarter worth $57,000. Victory Capital Management Inc. raised its stake in shares of LifeStance Health Group by 27.0% in the second quarter. Victory Capital Management Inc. now owns 14,407 shares of the company’s stock valued at $71,000 after buying an additional 3,063 shares during the period. Finally, Park Edge Advisors LLC purchased a new position in shares of LifeStance Health Group during the 3rd quarter valued at $73,000. Hedge funds and other institutional investors own 85.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays boosted their price objective on LifeStance Health Group from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. UBS Group reduced their target price on shares of LifeStance Health Group from $9.00 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.50.

LifeStance Health Group Stock Performance

NASDAQ:LFST opened at $7.40 on Friday. LifeStance Health Group, Inc. has a 52-week low of $4.64 and a 52-week high of $9.20. The business’s fifty day moving average is $7.02 and its 200 day moving average is $6.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -28.46 and a beta of 1.24.

LifeStance Health Group (NASDAQ:LFST) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $312.70 million for the quarter, compared to the consensus estimate of $302.25 million. LifeStance Health Group had a negative net margin of 7.90% and a negative return on equity of 6.66%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. Research analysts predict that LifeStance Health Group, Inc. will post -0.22 EPS for the current year.

LifeStance Health Group Company Profile

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.