EP Wealth Advisors LLC Buys New Shares in Life360, Inc. $LIF

EP Wealth Advisors LLC acquired a new stake in shares of Life360, Inc. (NASDAQ:LIF) in the second quarter, HoldingsChannel reports. The institutional investor acquired 26,233 shares of the company’s stock, valued at approximately $1,452,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LIF. Ieq Capital LLC bought a new stake in Life360 during the 2nd quarter worth approximately $1,720,000. Greenspring Advisors LLC bought a new position in Life360 in the 2nd quarter worth $9,592,000. Deutsche Bank AG purchased a new stake in Life360 in the 2nd quarter worth $1,436,000. Roman Butler Fullerton & Co. purchased a new stake in Life360 in the 2nd quarter worth $379,000. Finally, Bank of New York Mellon Corp bought a new stake in Life360 during the second quarter valued at about $15,547,000. 20.00% of the stock is owned by hedge funds and other institutional investors.

Life360 Stock Performance

NASDAQ:LIF opened at $44.66 on Monday. Life360, Inc. has a one year low of $37.01 and a one year high of $112.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.46 and a current ratio of 5.60. The firm has a market cap of $3.64 billion, a P/E ratio of 26.12 and a beta of 2.35. The firm has a 50-day simple moving average of $53.04 and a 200-day simple moving average of $47.67.

Life360 (NASDAQ:LIF) last released its earnings results on Monday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). The company had revenue of $158.96 million for the quarter, compared to analysts’ expectations of $156.68 million. Life360 had a return on equity of 5.66% and a net margin of 25.73%. Equities analysts anticipate that Life360, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LIF. DA Davidson upped their price objective on Life360 from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Bank of America lifted their target price on Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Macquarie Infrastructure assumed coverage on Life360 in a research note on Tuesday, April 28th. They issued an “outperform” rating and a $32.20 price target for the company. Morgan Stanley set a $65.20 target price on shares of Life360 in a report on Wednesday, August 12th. Finally, Citigroup cut their target price on shares of Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.72.

Insider Buying and Selling

In other news, Director Brit Morin sold 10,701 shares of Life360 stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $60.00, for a total value of $642,060.00. Following the completion of the sale, the director directly owned 20,157 shares of the company’s stock, valued at approximately $1,209,420. The trade was a 34.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles J. Prober sold 7,930 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $48.59, for a total transaction of $385,318.70. Following the sale, the director owned 109,930 shares in the company, valued at approximately $5,341,498.70. This trade represents a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 352,637 shares of company stock valued at $17,104,265 over the last ninety days. 6.80% of the stock is currently owned by company insiders.

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.