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

The Manufacturers Life Insurance Company bought a new stake in Life360, Inc. (NASDAQ:LIF) in the second quarter, Holdings Channel reports. The fund bought 26,088 shares of the company’s stock, valued at approximately $1,444,000.

Several other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in Life360 by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 1,153,096 shares of the company’s stock valued at $74,372,000 after purchasing an additional 85,857 shares during the last quarter. State Street Corp grew its position in 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. increased its holdings in shares of Life360 by 86.3% in 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 in the last quarter. Norges Bank bought a new position in shares of Life360 in the fourth quarter valued at $47,097,000. Finally, Federated Hermes Inc. lifted its position in shares of Life360 by 31.7% during the 4th quarter. Federated Hermes Inc. now owns 588,182 shares of the company’s stock valued at $37,726,000 after acquiring an additional 141,438 shares during the last quarter. Institutional investors and hedge funds own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LIF shares. Wall Street Zen cut Life360 from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. UBS Group decreased their price target on Life360 from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings raised Life360 from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Canaccord Genuity Group set a $72.00 price objective on Life360 in a report on Tuesday, May 12th. Finally, Morgan Stanley set a $65.20 price objective on shares of Life360 in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.72.

Life360 Price Performance

Shares of NASDAQ:LIF opened at $43.88 on Friday. The company’s fifty day moving average is $52.20 and its two-hundred day moving average is $47.01. The company has a market cap of $3.58 billion, a P/E ratio of 25.66 and a beta of 2.24. Life360, Inc. has a 12-month low of $37.01 and a 12-month high of $112.54. The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51.

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

Insiders Place Their Bets

In other Life360 news, Director James Synge sold 27,466 shares of the business’s stock in a transaction dated 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 transaction, the director owned 191,694 shares in the company, valued at $8,493,961.14. The trade was a 12.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Chris Hulls sold 250,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $46.84, for a total value of $11,710,000.00. Following the completion of the transaction, the director directly owned 382,056 shares in the company, valued at approximately $17,895,503.04. The trade was a 39.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 369,557 shares of company stock valued at $17,915,251 over the last ninety days. 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.