Norges Bank Purchases New Stake in Life360, Inc. $LIF

Norges Bank purchased a new stake in shares of Life360, Inc. (NASDAQ:LIF) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 734,283 shares of the company’s stock, valued at approximately $47,097,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Life360 by 18.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,271,920 shares of the company’s stock worth $879,305,000 after buying an additional 1,260,236 shares during the last quarter. Geode Capital Management LLC boosted 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 buying an additional 85,857 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 purchasing an additional 352,110 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Life360 by 158.4% during the third quarter. Citigroup Inc. now owns 749,569 shares of the company’s stock valued at $79,679,000 after purchasing an additional 459,463 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Life360 by 171.3% during the third quarter. Invesco Ltd. now owns 444,923 shares of the company’s stock valued at $47,295,000 after purchasing an additional 280,953 shares during the last quarter. 20.00% of the stock is currently owned by institutional investors.

Life360 Price Performance

Shares of LIF stock opened at $45.37 on Monday. The stock has a 50 day moving average of $42.45 and a two-hundred day moving average of $53.12. 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 12 month low of $37.01 and a 12 month high of $112.54. The company has a market capitalization of $3.68 billion, a P/E ratio of 26.23 and a beta of 2.63.

Insider Buying and Selling

In related news, Director Charles J. Prober sold 7,930 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $37.27, for a total transaction of $295,551.10. Following the completion of the transaction, the director owned 105,456 shares in the company, valued at $3,930,345.12. This trade represents a 6.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lauren Antonoff sold 2,716 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $45.23, for a total value of $122,844.68. Following the transaction, the chief executive officer owned 309,781 shares of the company’s stock, valued at $14,011,394.63. This trade represents a 0.87% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 70,263 shares of company stock worth $2,926,637 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

LIF has been the subject of a number of research reports. Weiss Ratings lowered Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Canaccord Genuity Group set a $72.00 price objective on Life360 in a research report on Tuesday, May 12th. Bank of America assumed coverage on Life360 in a research note on Wednesday, April 22nd. They set a “buy” rating and a $60.00 price target for the company. Evercore set a $68.00 price objective on Life360 in a report on Tuesday, May 12th. Finally, Wall Street Zen lowered Life360 from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Life360 currently has an average rating of “Moderate Buy” and a consensus price target of $63.94.

Life360 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.