Ieq Capital LLC purchased a new position in shares of Life360, Inc. (NASDAQ:LIF – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,071 shares of the company’s stock, valued at approximately $1,720,000.
Several other hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of Life360 by 0.4% in the second quarter. California State Teachers Retirement System now owns 61,697 shares of the company’s stock valued at $4,026,000 after purchasing an additional 254 shares during the period. Swiss Life Asset Management Ltd boosted its position in shares of Life360 by 8.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 3,617 shares of the company’s stock worth $232,000 after buying an additional 273 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Life360 by 21.1% during the fourth quarter. Russell Investments Group Ltd. now owns 1,673 shares of the company’s stock worth $107,000 after buying an additional 292 shares during the period. NewEdge Advisors LLC bought a new position in Life360 in the 3rd quarter worth approximately $32,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Life360 by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,127 shares of the company’s stock worth $1,379,000 after buying an additional 343 shares in the last quarter. 20.00% of the stock is currently owned by institutional investors.
Life360 Stock Performance
Shares of LIF opened at $44.55 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.60 and a quick ratio of 5.46. The firm’s 50 day moving average is $52.91 and its 200-day moving average is $47.48. Life360, Inc. has a 12-month low of $37.01 and a 12-month high of $112.54. The stock has a market capitalization of $3.63 billion, a P/E ratio of 26.05 and a beta of 2.35.
Insider Buying and Selling
In other news, Director John Philip Coghlan sold 4,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $54.82, for a total transaction of $219,280.00. Following the completion of the sale, the director directly owned 20,431 shares of the company’s stock, valued at $1,120,027.42. This trade represents a 16.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Chris Hulls sold 250,000 shares of Life360 stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $46.84, for a total value of $11,710,000.00. Following the completion of the transaction, the director owned 382,056 shares in the company, valued at $17,895,503.04. The trade was a 39.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 352,637 shares of company stock worth $17,104,265 over the last quarter. 6.80% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on LIF shares. Evercore set a $68.00 price target on Life360 in a research report on Tuesday, May 12th. UBS Group lowered their price target on Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen cut shares of Life360 from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. DA Davidson upped their price objective on shares of Life360 from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Canaccord Genuity Group set a $72.00 target price on shares of Life360 in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Life360 has an average rating of “Moderate Buy” and an average price target of $60.72.
Check Out Our Latest Stock Analysis on LIF
Life360 Company Profile
Life360, Inc (NASDAQ: LIF) operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company’s services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.
The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.
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