Norges Bank Makes New $47.10 Million Investment in Life360, Inc. $LIF

Norges Bank acquired a new position in shares of Life360, Inc. (NASDAQ:LIF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 734,283 shares of the company’s stock, valued at approximately $47,097,000. Norges Bank owned approximately 0.94% of Life360 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 the stock. SBI Securities Co. Ltd. grew its position in shares of Life360 by 824.1% during the third quarter. SBI Securities Co. Ltd. now owns 268 shares of the company’s stock worth $28,000 after acquiring an additional 239 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Life360 in the third quarter valued at $32,000. IFP Advisors Inc acquired a new stake in Life360 in the third quarter valued at $47,000. Jones Financial Companies Lllp lifted its holdings in Life360 by 1,663.3% in the third quarter. Jones Financial Companies Lllp now owns 529 shares of the company’s stock valued at $55,000 after acquiring an additional 499 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Life360 during the 3rd quarter worth $80,000. Institutional investors and hedge funds own 20.00% of the company’s stock.

Life360 Price Performance

NASDAQ LIF opened at $45.37 on Monday. The business has a 50 day moving average price of $42.45 and a two-hundred day moving average price of $53.12. Life360, Inc. has a fifty-two week low of $37.01 and a fifty-two week high of $112.54. The stock has a market cap of $3.68 billion, a PE ratio of 26.23 and a beta of 2.63. The company has a quick ratio of 5.23, a current ratio of 5.37 and a debt-to-equity ratio of 0.52.

Wall Street Analysts Forecast Growth

LIF has been the subject of several research reports. Weiss Ratings downgraded Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Evercore set a $68.00 price target on Life360 in a report on Tuesday, May 12th. DA Davidson restated a “neutral” rating and issued a $40.00 price target on shares of Life360 in a report on Wednesday, May 13th. Wall Street Zen cut Life360 from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, UBS Group decreased their target price on Life360 from $75.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. One 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.94.

Insiders Place Their Bets

In other Life360 news, Director Chris Hulls sold 16,379 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $40.34, for a total value of $660,728.86. Following the transaction, the director directly owned 403,485 shares of the company’s stock, valued at $16,276,584.90. This represents a 3.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Philip Coghlan sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $43.99, for a total value of $175,960.00. Following the sale, the director directly owned 28,431 shares in the company, valued at approximately $1,250,679.69. This represents a 12.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 70,263 shares of company stock valued at $2,926,637. Company 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.