Vanguard Group Inc. Trims Stake in Life360, Inc. $LIF

Vanguard Group Inc. reduced its position in Life360, Inc. (NASDAQ:LIF) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,192,953 shares of the company’s stock after selling 78,967 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Life360 worth $525,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LIF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Life360 by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company’s stock worth $237,000 after purchasing an additional 378 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 purchasing an additional 15,420 shares during the period. Strs Ohio purchased a new stake in Life360 in the 1st quarter worth about $157,000. New York State Common Retirement Fund raised its position in Life360 by 59.4% in the 2nd quarter. New York State Common Retirement Fund now owns 5,100 shares of the company’s stock worth $333,000 after purchasing an additional 1,900 shares during the period. Finally, Invesco Ltd. raised its position in Life360 by 1,065.1% in the 2nd quarter. Invesco Ltd. now owns 163,970 shares of the company’s stock worth $10,699,000 after purchasing an additional 149,896 shares during the period. 20.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on LIF. Citizens Jmp lowered shares of Life360 from a “market outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Life360 in a research report on Friday, March 27th. Wall Street Zen lowered shares of Life360 from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Stifel Nicolaus reduced their target price on shares of Life360 from $92.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, January 27th. Finally, Canaccord Genuity Group reduced their target price on shares of Life360 from $115.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Life360 presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.35.

Insider Activity

In other Life360 news, CEO Lauren Antonoff sold 2,716 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $45.23, for a total value of $122,844.68. Following the completion of the sale, the chief executive officer directly owned 309,781 shares in the company, valued at $14,011,394.63. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Philip Coghlan sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $41.32, for a total transaction of $165,280.00. Following the completion of the sale, the director owned 36,431 shares of the company’s stock, valued at approximately $1,505,328.92. This trade represents a 9.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 63,037 shares of company stock valued at $2,682,792 in the last ninety days.

Life360 Price Performance

Shares of LIF opened at $46.28 on Tuesday. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 26.45 and a beta of 2.81. Life360, Inc. has a twelve month low of $37.01 and a twelve month high of $112.54. The company has a quick ratio of 6.16, a current ratio of 6.26 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $43.70 and a two-hundred day moving average of $61.09.

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.