Renaissance Technologies LLC Decreases Stake in Life360, Inc. $LIF

Renaissance Technologies LLC cut its stake in Life360, Inc. (NASDAQ:LIF) by 36.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,300 shares of the company’s stock after selling 83,500 shares during the period. Renaissance Technologies LLC’s holdings in Life360 were worth $5,890,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. California State Teachers Retirement System lifted its stake in shares of Life360 by 0.4% during the second quarter. California State Teachers Retirement System now owns 61,697 shares of the company’s stock worth $4,026,000 after buying an additional 254 shares during the period. Swiss Life Asset Management Ltd raised its stake in Life360 by 8.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 3,617 shares of the company’s stock worth $232,000 after acquiring an additional 273 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Life360 by 21.1% during the 4th quarter. Russell Investments Group Ltd. now owns 1,673 shares of the company’s stock worth $107,000 after acquiring an additional 292 shares during the period. NewEdge Advisors LLC purchased a new stake in Life360 during the 3rd quarter valued at about $32,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Life360 by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,127 shares of the company’s stock valued at $1,379,000 after purchasing an additional 343 shares during the period. Institutional investors and hedge funds own 20.00% of the company’s stock.

Analysts Set New Price Targets

LIF has been the subject of a number of research reports. DA Davidson lifted their target price on Life360 from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. Macquarie Infrastructure initiated coverage on shares of Life360 in a research note on Tuesday, April 28th. They set an “outperform” rating and a $32.20 price objective for the company. Evercore set a $68.00 price objective on shares of Life360 in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of Life360 from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Morgan Stanley started coverage on Life360 in a research report on Tuesday, July 21st. They set an “overweight” rating and a $66.24 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.81.

Insider Activity

In other Life360 news, Director Brit Morin sold 10,701 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total value of $642,060.00. Following the completion of the transaction, the director owned 20,157 shares in the company, valued at approximately $1,209,420. This represents a 34.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Philip Coghlan sold 4,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $54.82, for a total transaction of $219,280.00. Following the sale, the director directly owned 20,431 shares in the company, valued at approximately $1,120,027.42. The trade was a 16.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 94,707 shares of company stock valued at $5,008,946. 6.80% of the stock is currently owned by company insiders.

Trending Headlines about Life360

Here are the key news stories impacting Life360 this week:

• Positive Sentiment: Analyst commentary remains optimistic. Macquarie reportedly sees additional upside for Life360, while broader coverage assigns the company a consensus “Moderate Buy” rating. How high does Macquarie think Life360 shares will go? Life360 receives consensus Moderate Buy recommendation
• Positive Sentiment: A recent investment article argues that Life360 could be a strong buy this month, reflecting continued confidence in the company’s growth prospects and recurring subscription model. Why Life360 shares could be a strong buy this month
• Neutral Sentiment: Investors are also considering whether Life360 remains attractive alongside other technology stocks such as Xero. The discussion highlights potential upside but also reinforces the need to assess valuation and execution risk. Should you buy Life360 and Xero shares in August?
• Negative Sentiment: Three directors sold a combined 41,701 shares for approximately $2.57 million. Chris Hulls sold 27,000 shares, Brit Morin sold 10,701, and John Philip Coghlan sold 4,000. Each transaction was made under a pre-arranged Rule 10b5-1 plan, which reduces its significance as a discretionary bearish signal, but the insider selling may still weigh on sentiment.

Life360 Price Performance

Shares of NASDAQ LIF opened at $61.45 on Thursday. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 35.52 and a beta of 2.35. Life360, Inc. has a 12 month low of $37.01 and a 12 month high of $112.54. The firm’s 50 day simple moving average is $51.65 and its 200-day simple moving average is $48.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.37 and a quick ratio of 5.23.

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.