State of Alaska Department of Revenue Sells 11,997 Shares of Life360, Inc. $LIF

State of Alaska Department of Revenue lowered its position in Life360, Inc. (NASDAQ:LIF) by 37.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,111 shares of the company’s stock after selling 11,997 shares during the quarter. State of Alaska Department of Revenue’s holdings in Life360 were worth $809,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cim Investment Management Inc. bought a new stake in Life360 during the 2nd quarter valued at $222,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Life360 in the second quarter worth about $317,000. Nykredit A S purchased a new stake in Life360 in the second quarter worth about $126,000. Amundi lifted its stake in Life360 by 156.5% in the second quarter. Amundi now owns 12,969 shares of the company’s stock worth $718,000 after acquiring an additional 7,912 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Life360 during the 2nd quarter worth about $908,000. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Life360

In other Life360 news, Director Alex Haro sold 50,000 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $40.88, for a total value of $2,044,000.00. Following the completion of the transaction, the director owned 1,010,303 shares of the company’s stock, valued at approximately $41,301,186.64. This trade represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $48.59, for a total value of $385,318.70. Following the sale, the director directly owned 109,930 shares of the company’s stock, valued at approximately $5,341,498.70. This represents a 6.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 456,790 shares of company stock worth $21,269,295 in the last three months. 6.80% of the stock is owned by company insiders.

Life360 Stock Performance

Shares of LIF stock opened at $46.46 on Friday. The business’s fifty day simple moving average is $42.92 and its 200-day simple moving average is $46.40. The company has a market cap of $3.79 billion, a PE ratio of 27.17 and a beta of 2.27. The company has a current ratio of 5.60, a quick ratio of 5.46 and a debt-to-equity ratio of 0.51. Life360, Inc. has a 12-month low of $37.01 and a 12-month high of $100.18.

Life360 (NASDAQ:LIF) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.06 earnings per share 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 business had revenue of $158.96 million during the quarter, compared to analyst estimates of $156.68 million. Analysts expect that Life360, Inc. will post 0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on LIF shares. Bank of America raised their target price on shares of Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. UBS Group dropped their price objective on shares of Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Life360 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. Citigroup dropped their target price on Life360 from $66.65 to $60.10 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Finally, DA Davidson reiterated a “neutral” rating and issued a $40.00 price target on shares of Life360 in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Life360 Company Profile

Life360, Inc is a technology company that develops connected safety and security products for families, individuals and pets. Its primary offering is the Life360 mobile application, which provides location sharing, family communication, driving safety tools, emergency assistance and other features intended to help users coordinate and stay connected.

The company also offers services such as crash detection, roadside assistance, SOS support and digital safety features. Through its ownership of Tile, Life360 provides Bluetooth-enabled finding devices and related tracking services for personal belongings.