Legal & General Group Plc Buys New Position in Life360, Inc. $LIF

Legal & General Group Plc purchased a new position in shares of Life360, Inc. (NASDAQ:LIF) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 171,006 shares of the company’s stock, valued at approximately $9,467,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Life360 in the fourth quarter valued at approximately $47,097,000. Principal Financial Group Inc. raised its stake in shares of Life360 by 455.0% during the first quarter. Principal Financial Group Inc. now owns 463,442 shares of the company’s stock valued at $18,918,000 after purchasing an additional 379,941 shares during the period. Franklin Resources Inc. lifted its position in shares of Life360 by 86.3% during the third quarter. Franklin Resources Inc. now owns 760,122 shares of the company’s stock worth $80,801,000 after purchasing an additional 352,110 shares in the last quarter. Greenspring Advisors LLC acquired a new position in shares of Life360 during the fourth quarter worth $21,720,000. Finally, Bank of America Corp DE lifted its position in shares of Life360 by 312.8% during the first quarter. Bank of America Corp DE now owns 407,296 shares of the company’s stock worth $16,626,000 after purchasing an additional 308,632 shares in the last quarter. Hedge funds and other institutional investors own 20.00% of the company’s stock.

Insider Activity at Life360

In other news, Director Chris Hulls sold 250,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $46.84, for a total value of $11,710,000.00. Following the sale, the director owned 382,056 shares in the company, valued at approximately $17,895,503.04. This represents a 39.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Synge sold 27,466 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $44.31, for a total transaction of $1,217,018.46. Following the transaction, the director directly owned 191,694 shares in the company, valued at $8,493,961.14. The trade was a 12.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 365,557 shares of company stock worth $17,747,371 over the last 90 days. Company insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Life360 from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. UBS Group dropped their price target on shares of Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Morgan Stanley set a $65.20 price objective on shares of Life360 in a research report on Wednesday, August 12th. Citigroup lowered their target price on Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a research note on Thursday, August 13th. Finally, Canaccord Genuity Group set a $72.00 target price on Life360 in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.72.

Life360 Stock Performance

Shares of LIF opened at $41.87 on Wednesday. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 24.49 and a beta of 2.25. The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $52.42 and its two-hundred day moving average is $47.10. Life360, Inc. has a 52-week low of $37.01 and a 52-week high of $112.54.

Life360 (NASDAQ:LIF) last released its quarterly earnings results on Monday, August 10th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The company had revenue of $158.96 million for the quarter, compared to analyst estimates of $156.68 million. Life360 had a return on equity of 5.66% and a net margin of 25.73%. Analysts forecast that Life360, Inc. will post 0.53 EPS for the current fiscal year.

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.