Louisiana State Employees Retirement System Makes New Investment in Life360, Inc. $LIF

Louisiana State Employees Retirement System purchased a new stake in shares of Life360, Inc. (NASDAQ:LIF) in the first quarter, HoldingsChannel reports. The institutional investor purchased 34,800 shares of the company’s stock, valued at approximately $1,421,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LIF. Geode Capital Management LLC lifted its stake in shares of Life360 by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 1,153,096 shares of the company’s stock worth $74,372,000 after purchasing an additional 85,857 shares during the period. State Street Corp boosted its holdings in shares of Life360 by 17.3% in the fourth quarter. State Street Corp now owns 905,153 shares of the company’s stock worth $58,057,000 after buying an additional 133,722 shares during the last quarter. Franklin Resources Inc. grew its position in Life360 by 86.3% during the third quarter. Franklin Resources Inc. now owns 760,122 shares of the company’s stock valued at $80,801,000 after buying an additional 352,110 shares during the period. Norges Bank bought a new stake in Life360 during the fourth quarter valued at approximately $47,097,000. Finally, Federated Hermes Inc. increased its holdings in Life360 by 31.7% during the fourth quarter. Federated Hermes Inc. now owns 588,182 shares of the company’s stock valued at $37,726,000 after buying an additional 141,438 shares during the last quarter. Hedge funds and other institutional investors own 20.00% of the company’s stock.

Life360 Trading Up 0.7%

Life360 stock opened at $57.71 on Friday. Life360, Inc. has a 12-month low of $37.01 and a 12-month high of $112.54. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 33.36 and a beta of 2.34. The firm has a 50 day moving average of $45.43 and a 200 day moving average of $49.87. The company has a current ratio of 5.37, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Canaccord Genuity Group set a $72.00 price target on shares of Life360 in a research report on Tuesday, May 12th. Macquarie Infrastructure initiated coverage on shares of Life360 in a research report on Tuesday, April 28th. They set an “outperform” rating and a $32.20 price objective for the company. DA Davidson upped their price objective on Life360 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Weiss Ratings cut Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Finally, Citigroup reiterated a “buy” rating on shares of Life360 in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Life360 presently has an average rating of “Moderate Buy” and an average target price of $64.17.

Insider Transactions at Life360

In other news, Director Charles J. Prober sold 7,930 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $46.07, for a total value of $365,335.10. Following the completion of the sale, the director directly owned 109,911 shares of the company’s stock, valued at $5,063,599.77. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Philip Coghlan sold 4,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $43.99, for a total transaction of $175,960.00. Following the sale, the director owned 28,431 shares in the company, valued at $1,250,679.69. The trade was a 12.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 79,757 shares of company stock valued at $3,541,120. Company insiders own 6.80% 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.