First Trust Advisors LP Cuts Stock Position in Life360, Inc. $LIF

First Trust Advisors LP cut its stake in shares of Life360, Inc. (NASDAQ:LIF) by 50.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,726 shares of the company’s stock after selling 45,080 shares during the quarter. First Trust Advisors LP’s holdings in Life360 were worth $1,785,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LIF. Wilson Asset Management International PTY Ltd. lifted its stake in shares of Life360 by 108.6% in the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 50,000 shares of the company’s stock worth $3,207,000 after acquiring an additional 26,028 shares during the period. Greenspring Advisors LLC acquired a new position in shares of Life360 during the fourth quarter worth about $21,720,000. XY Capital Ltd acquired a new position in shares of Life360 during the fourth quarter worth about $6,063,000. Milford Funds Ltd. acquired a new position in shares of Life360 during the fourth quarter worth about $9,604,000. Finally, Hodges Capital Management Inc. raised its holdings in Life360 by 36.4% during the fourth quarter. Hodges Capital Management Inc. now owns 63,546 shares of the company’s stock worth $4,076,000 after purchasing an additional 16,972 shares in the last quarter. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LIF has been the subject of a number of recent analyst reports. Macquarie Infrastructure assumed coverage on shares of Life360 in a research report on Tuesday, April 28th. They issued an “outperform” rating and a $32.20 price objective for the company. Wall Street Zen cut Life360 from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. DA Davidson raised their price target on Life360 from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Finally, Canaccord Genuity Group set a $72.00 price target on Life360 in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.81.

Life360 Price Performance

Shares of NASDAQ LIF opened at $63.19 on Friday. The company has a current ratio of 5.37, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $52.43 and its 200 day moving average price is $48.43. Life360, Inc. has a 52 week low of $37.01 and a 52 week high of $112.54. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 36.53 and a beta of 2.35.

Insider Buying and Selling

In related news, Director Chris Hulls sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $63.34, for a total transaction of $1,710,180.00. Following the completion of the transaction, the director owned 419,554 shares of the company’s stock, valued at approximately $26,574,550.36. This represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brit Morin sold 10,701 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $60.00, for a total transaction of $642,060.00. Following the transaction, the director directly owned 20,157 shares in the company, valued at approximately $1,209,420. This represents a 34.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 94,707 shares of company stock valued at $5,008,946 over the last three months. Insiders own 6.80% of the company’s stock.

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.