925,198 Shares in Life360, Inc. $LIF Bought by Norges Bank

Norges Bank purchased a new stake in shares of Life360, Inc. (NASDAQ:LIF) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 925,198 shares of the company’s stock, valued at approximately $60,369,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LIF. Vanguard Group Inc. lifted its position in shares of Life360 by 3,865.6% during the 1st quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company’s stock valued at $218,194,000 after buying an additional 5,540,302 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Life360 by 24.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 52,450 shares of the company’s stock valued at $2,014,000 after purchasing an additional 10,264 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Life360 by 133.4% in the first quarter. Deutsche Bank AG now owns 9,650 shares of the company’s stock worth $370,000 after purchasing an additional 5,516 shares during the period. WealthPlan Investment Management LLC increased its stake in shares of Life360 by 5.6% in the first quarter. WealthPlan Investment Management LLC now owns 10,550 shares of the company’s stock worth $405,000 after purchasing an additional 558 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Life360 during the 1st quarter valued at $540,000. Hedge funds and other institutional investors own 20.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark Goines sold 15,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $74.19, for a total value of $1,112,850.00. Following the sale, the director owned 56,809 shares in the company, valued at approximately $4,214,659.71. The trade was a 20.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alex Haro sold 100,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $76.45, for a total transaction of $7,645,000.00. Following the sale, the director directly owned 861,315 shares in the company, valued at approximately $65,847,531.75. The trade was a 10.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 587,302 shares of company stock worth $46,000,472. Insiders own 8.00% of the company’s stock.

Analyst Upgrades and Downgrades

LIF has been the subject of several recent analyst reports. Stifel Nicolaus downgraded shares of Life360 from a “buy” rating to a “hold” rating and set a $92.00 target price for the company. in a report on Friday, October 24th. JMP Securities boosted their price objective on Life360 from $62.00 to $95.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 12th. UBS Group dropped their price objective on Life360 from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Life360 in a research note on Tuesday. Finally, Zacks Research cut Life360 from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Life360 Stock Up 3.3%

LIF opened at $78.00 on Friday. The company has a market capitalization of $6.12 billion, a PE ratio of 229.41 and a beta of 3.60. The firm has a 50-day simple moving average of $89.47 and a two-hundred day simple moving average of $81.12. The company has a quick ratio of 6.62, a current ratio of 6.80 and a debt-to-equity ratio of 0.79. Life360, Inc. has a 52 week low of $29.62 and a 52 week high of $112.54.

Life360 (NASDAQ:LIF) last issued its earnings results on Monday, November 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.08. The firm had revenue of $124.50 million for the quarter, compared to analysts’ expectations of $119.26 million. Life360 had a return on equity of 7.95% and a net margin of 6.46%. Analysts forecast that Life360, Inc. will post -0.17 earnings per share for the current fiscal year.

Life360 Company Profile

Life360 Inc is a family connection and safety company. Its business category includes mobile app and Tile tracking devices with a range of services, including location sharing, safe driver reports and crash detection with emergency dispatch. Life360 Inc is based in SAN FRANCISCO.