54,202 Shares in Life360, Inc. $LIF Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new stake in Life360, Inc. (NASDAQ:LIF) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 54,202 shares of the company’s stock, valued at approximately $5,762,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LIF. Arizona State Retirement System grew its position in shares of Life360 by 2.8% during the 3rd quarter. Arizona State Retirement System now owns 21,518 shares of the company’s stock worth $2,287,000 after buying an additional 578 shares during the period. Hollencrest Capital Management bought a new position in Life360 during the third quarter worth $648,000. Federated Hermes Inc. grew its holdings in Life360 by 20.3% in the third quarter. Federated Hermes Inc. now owns 446,744 shares of the company’s stock worth $47,489,000 after purchasing an additional 75,283 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in Life360 in the third quarter valued at $287,000. Finally, Teacher Retirement System of Texas increased its stake in Life360 by 13.0% in the third quarter. Teacher Retirement System of Texas now owns 12,298 shares of the company’s stock valued at $1,307,000 after purchasing an additional 1,410 shares in the last quarter. 20.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Zacks Research cut shares of Life360 from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Wall Street Zen cut Life360 from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Citizens Jmp lowered Life360 from a “market outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Citigroup reissued a “buy” rating on shares of Life360 in a research report on Tuesday, January 27th. Finally, DA Davidson began coverage on shares of Life360 in a research note on Thursday, December 11th. They set a “buy” rating and a $94.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.31.

Life360 Stock Down 2.0%

Shares of NASDAQ:LIF opened at $49.31 on Friday. The business’s 50 day moving average is $61.78 and its 200 day moving average is $79.95. Life360, Inc. has a 12-month low of $29.62 and a 12-month high of $112.54. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 145.03 and a beta of 3.79. The company has a quick ratio of 6.62, a current ratio of 6.80 and a debt-to-equity ratio of 0.79.

Insider Activity

In other news, Director Alex Haro sold 100,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $76.45, for a total value of $7,645,000.00. Following the completion of the sale, the director owned 861,315 shares in the company, valued at $65,847,531.75. This represents a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lauren Antonoff sold 19,442 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $76.24, for a total transaction of $1,482,258.08. Following the transaction, the chief executive officer directly owned 305,385 shares in the company, valued at $23,282,552.40. The trade was a 5.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 597,421 shares of company stock worth $45,832,768. Company insiders own 8.00% of the company’s stock.

About Life360

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.