Fifth Third Bancorp Invests $700,000 in Life360, Inc. $LIF

Fifth Third Bancorp bought a new position in shares of Life360, Inc. (NASDAQ:LIF) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,140 shares of the company’s stock, valued at approximately $700,000.

A number of other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Life360 by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 1,153,096 shares of the company’s stock worth $74,372,000 after buying an additional 85,857 shares during the last quarter. State Street Corp boosted its holdings in shares of Life360 by 17.3% in the 4th quarter. State Street Corp now owns 905,153 shares of the company’s stock valued at $58,057,000 after acquiring an additional 133,722 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Life360 by 86.3% in the third quarter. Franklin Resources Inc. now owns 760,122 shares of the company’s stock worth $80,801,000 after acquiring an additional 352,110 shares during the period. Norges Bank purchased a new position in shares of Life360 during the fourth quarter worth $47,097,000. Finally, Federated Hermes Inc. raised its holdings in shares of Life360 by 31.7% during the fourth quarter. Federated Hermes Inc. now owns 588,182 shares of the company’s stock worth $37,726,000 after purchasing 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 10.2%

Shares of Life360 stock opened at $53.83 on Tuesday. The company has a current ratio of 5.37, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52. Life360, Inc. has a twelve month low of $37.01 and a twelve month high of $112.54. The firm has a market capitalization of $4.36 billion, a PE ratio of 31.12 and a beta of 2.34. The firm’s 50-day moving average price is $49.22 and its 200 day moving average price is $48.56.

Analysts Set New Price Targets

Several equities research analysts have commented on LIF shares. Macquarie Infrastructure began coverage on shares of Life360 in a report on Tuesday, April 28th. They issued an “outperform” rating and a $32.20 price target on the stock. DA Davidson raised 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. Wall Street Zen cut Life360 from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Citigroup boosted their price target on Life360 from $60.15 to $66.65 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Morgan Stanley initiated coverage on Life360 in a research report on Tuesday, July 21st. They issued an “overweight” rating and a $66.24 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.81.

Insider Buying and Selling

In other news, Director Charles J. Prober sold 7,930 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $46.07, for a total transaction of $365,335.10. Following the completion of the transaction, the director directly owned 109,911 shares in the company, valued at approximately $5,063,599.77. This represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 dated Wednesday, July 1st. The stock was sold at an average price of $56.07, for a total value of $224,280.00. Following the sale, the director directly owned 24,431 shares of the company’s stock, valued at $1,369,846.17. The trade was a 14.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 57,006 shares of company stock worth $2,614,066 in the last three months. 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.