The Manufacturers Life Insurance Company Purchases New Position in Life360, Inc. $LIF

The Manufacturers Life Insurance Company acquired a new stake in Life360, Inc. (NASDAQ:LIF) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,088 shares of the company’s stock, valued at approximately $1,444,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Life360 by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company’s stock worth $237,000 after buying an additional 378 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Life360 by 12.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,748 shares of the company’s stock worth $5,327,000 after acquiring an additional 15,420 shares during the period. Strs Ohio acquired a new stake in Life360 in the first quarter valued at approximately $157,000. New York State Common Retirement Fund grew its position in Life360 by 59.4% in the second quarter. New York State Common Retirement Fund now owns 5,100 shares of the company’s stock valued at $333,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Life360 by 1,065.1% during the second quarter. Invesco Ltd. now owns 163,970 shares of the company’s stock valued at $10,699,000 after purchasing an additional 149,896 shares during the period. Institutional investors and hedge funds own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on LIF. Morgan Stanley set a $65.20 target price on shares of Life360 in a research report on Wednesday, August 12th. Citigroup dropped their price target on shares of Life360 from $66.65 to $60.10 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Wall Street Zen lowered shares of Life360 from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. UBS Group decreased their price objective on shares of Life360 from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, DA Davidson raised their target price on Life360 from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Life360 has a consensus rating of “Moderate Buy” and an average target price of $60.72.

Life360 Stock Performance

Life360 stock opened at $43.88 on Friday. Life360, Inc. has a 52 week low of $37.01 and a 52 week high of $112.54. The company has a current ratio of 5.60, a quick ratio of 5.46 and a debt-to-equity ratio of 0.51. The stock has a market cap of $3.58 billion, a P/E ratio of 25.66 and a beta of 2.24. The stock has a 50 day moving average of $52.20 and a 200-day moving average of $47.01.

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

Insider Transactions at Life360

In other Life360 news, 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 owned 20,157 shares of the company’s stock, valued at $1,209,420. This trade represents a 34.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Synge sold 27,466 shares of Life360 stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $44.31, for a total value of $1,217,018.46. Following the completion of the transaction, the director owned 191,694 shares of the company’s stock, valued at approximately $8,493,961.14. The trade was a 12.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 369,557 shares of company stock valued at $17,915,251 over the last 90 days. Corporate 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.