Principal Financial Group Inc. Sells 328,060 Shares of LifeStance Health Group, Inc. (NASDAQ:LFST)

Principal Financial Group Inc. trimmed its holdings in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 8.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,788,706 shares of the company’s stock after selling 328,060 shares during the period. Principal Financial Group Inc. owned approximately 0.99% of LifeStance Health Group worth $27,923,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of LifeStance Health Group by 124.4% during the 4th quarter. Blue Trust Inc. now owns 3,828 shares of the company’s stock worth $27,000 after buying an additional 2,122 shares in the last quarter. Townsquare Capital LLC bought a new position in shares of LifeStance Health Group during the 3rd quarter worth approximately $73,000. Park Edge Advisors LLC bought a new position in shares of LifeStance Health Group during the 3rd quarter worth approximately $73,000. R Squared Ltd bought a new position in shares of LifeStance Health Group during the 4th quarter worth approximately $80,000. Finally, Entropy Technologies LP bought a new position in shares of LifeStance Health Group during the 4th quarter worth approximately $150,000. 85.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LFST has been the topic of a number of research reports. Barclays upped their target price on LifeStance Health Group from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. The Goldman Sachs Group raised LifeStance Health Group from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, LifeStance Health Group presently has a consensus rating of “Hold” and an average price target of $8.70.

Insider Activity at LifeStance Health Group

In related news, Director Robert Bessler sold 75,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $7.54, for a total value of $565,500.00. Following the completion of the sale, the director now directly owns 1,424,447 shares of the company’s stock, valued at approximately $10,740,330.38. This represents a 5.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.60% of the stock is currently owned by insiders.

LifeStance Health Group Price Performance

Shares of NASDAQ:LFST opened at $7.70 on Friday. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -29.62 and a beta of 1.28. The stock’s 50 day moving average is $7.77 and its 200-day moving average is $7.16. LifeStance Health Group, Inc. has a twelve month low of $4.64 and a twelve month high of $9.20. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.19.

About LifeStance Health Group

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.