Jennison Associates LLC Buys 5,949,438 Shares of LifeStance Health Group, Inc. (NASDAQ:LFST)

Jennison Associates LLC raised its stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST - Free Report) by 278.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,086,380 shares of the company's stock after buying an additional 5,949,438 shares during the quarter. Jennison Associates LLC owned about 2.11% of LifeStance Health Group worth $59,597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of LFST. Blue Trust Inc. grew its holdings in LifeStance Health Group by 124.4% during the fourth quarter. Blue Trust Inc. now owns 3,828 shares of the company's stock valued at $27,000 after purchasing an additional 2,122 shares during the period. Algert Global LLC bought a new position in shares of LifeStance Health Group during the second quarter worth $57,000. Park Edge Advisors LLC acquired a new position in shares of LifeStance Health Group in the 3rd quarter valued at $73,000. Townsquare Capital LLC bought a new stake in shares of LifeStance Health Group in the 3rd quarter valued at $73,000. Finally, R Squared Ltd acquired a new stake in LifeStance Health Group during the 4th quarter worth $80,000. 85.50% of the stock is owned by institutional investors.

LifeStance Health Group Stock Down 0.9 %

NASDAQ LFST traded down $0.07 on Friday, reaching $7.91. The company had a trading volume of 473,121 shares, compared to its average volume of 977,945. The company's fifty day moving average is $7.64 and its 200-day moving average is $6.99. LifeStance Health Group, Inc. has a 1-year low of $4.64 and a 1-year high of $9.20. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -30.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.32 and a current ratio of 1.32.

LifeStance Health Group (NASDAQ:LFST - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $312.70 million during the quarter, compared to the consensus estimate of $302.25 million. LifeStance Health Group had a negative return on equity of 6.66% and a negative net margin of 7.90%. LifeStance Health Group's quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. On average, research analysts forecast that LifeStance Health Group, Inc. will post -0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on LFST shares. The Goldman Sachs Group raised LifeStance Health Group from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a research note on Monday, December 16th. 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 report on Monday, November 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, LifeStance Health Group has a consensus rating of "Hold" and an average price target of $8.70.

Insiders Place Their Bets

In other LifeStance Health Group news, Director Robert Bessler sold 75,000 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $7.54, for a total transaction of $565,500.00. Following the sale, the director now directly owns 1,424,447 shares of the company's stock, valued at $10,740,330.38. The trade was a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 6.60% of the company's stock.

LifeStance Health Group 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.