Sagstrom, the Swede who had the first-round lead after a 63, had the best third-round with a 67. The 29-year-old is seeking her second win.
“I shot a good score today, and if I just keep playing my game, keep hitting good putts, giving myself good chances, you never know,” Sagstrom said. “But I’m just have to stay in the present. That’s really what I have to do.”
Sagstrom briefly moved into a tie for the lead with a birdie at the par-5 12th as Lee bogeyed No. 11 after an errant tee shot.
Lee re-took the lead with the eagle on No. 12 and the birdie on No. 13 on putts ranging from 15-to-18 feet.
“I think everybody can get there in two on that hole,” Lee said.
Lexi Thompson started the round tied with Sagstrom at 11 under, and was alone in third, three shots back after a 69. She might have been closer to her first win since 2019 but she just missed at least five or six putts.
“I’m not even thinking that far ahead,” Thompson said of winning. “Just going to come out tomorrow, take it one shot at a time. I know I put in the work, so coming out here, being relaxed, and committing to my golf shots; that’s all I can do.”
Angel Yin shot a 68 and moved into fourth place at 11 under. She had five birdies and a bogey.
“I actually left a lot out there,” said Yin. “I hit it pretty good so gave myself a lot of looks. That was really good. Actually I left like at least four out there that I felt like I could have made.”
Ally Ewing, who was tied for second after two rounds, never got anything going in posting a 74. She was tied for fifth at 9 under with Paula Reto of South Africa and Megan Khang.
Nasa Hataoka of Japan, who won in Los Angeles last month, was in a group nine shots off the lead. Jennifer Kupcho, the winner at Mission Hills in the first major of the season, also was 8 under.
Two-time defending champion and No. 1 ranked Jin Young Ko of South Korea was far back at 5 under.
Anna Davis, the 16-year-old lefty who won the recent Augusta National Women’s Amateur, remained at 4 under after shooting par.
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CaptionLexi Thompson Prepares to tee off on the seventh hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionLexi Thompson Prepares to tee off on the seventh hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionMadelene Sagstrom, of Sweden, tees off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionMadelene Sagstrom, of Sweden, tees off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionNasa Hataoka tosses a ball to her caddie on the first green during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionNasa Hataoka tosses a ball to her caddie on the first green during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionJin Young Ko hits from the rough on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionJin Young Ko hits from the rough on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionAlly Ewing tees watches her tee shot on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionAlly Ewing tees watches her tee shot on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionMinjee Lee chips from the rough onto the third green during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionMinjee Lee chips from the rough onto the third green during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionMadelene Sagstrom, of Sweden, lines up a putt on the first green during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionMadelene Sagstrom, of Sweden, lines up a putt on the first green during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionAngel Yin lines up a putt on the first green during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionAngel Yin lines up a putt on the first green during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionLexi Thompson tees of on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionLexi Thompson tees of on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionSanna Nuutinen, of Finland, tees off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionSanna Nuutinen, of Finland, tees off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionPaula Reto reacts after missing a putt on the first green during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionPaula Reto reacts after missing a putt on the first green during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionSanna Nuutinen, of Finland, tees off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionSanna Nuutinen, of Finland, tees off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionCarlota Ciganda tees off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionCarlota Ciganda tees off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionMadelene Sagstrom, of Sweden, tees off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionMadelene Sagstrom, of Sweden, tees off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo
CaptionMinjee Lee prepares to tee off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
CaptionMinjee Lee prepares to tee off on the second hole during the third round of the LPGA Cognizant Founders Cup golf tournament, Saturday, May 14, 2022, at the Upper Montclair Country Club in Clifton, N.J. (AP Photo/John Minchillo)
Credit: John Minchillo
Credit: John Minchillo