Maryland State Retirement & Pension System Invests $467,000 in Life360, Inc. $LIF

Maryland State Retirement & Pension System acquired a new stake in Life360, Inc. (NASDAQ:LIF) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,443 shares of the company’s stock, valued at approximately $467,000.

A number of other large investors have also bought and sold shares of LIF. California State Teachers Retirement System raised its stake in shares of Life360 by 0.4% in the second quarter. California State Teachers Retirement System now owns 61,697 shares of the company’s stock valued at $4,026,000 after buying an additional 254 shares during the period. Swiss Life Asset Management Ltd increased its holdings in Life360 by 8.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 3,617 shares of the company’s stock worth $232,000 after acquiring an additional 273 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Life360 by 21.1% in the 4th quarter. Russell Investments Group Ltd. now owns 1,673 shares of the company’s stock valued at $107,000 after acquiring an additional 292 shares during the period. NewEdge Advisors LLC bought a new stake in Life360 in the 3rd quarter valued at about $32,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Life360 by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 21,127 shares of the company’s stock valued at $1,379,000 after purchasing an additional 343 shares during the last quarter. 20.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Life360 news, Director Chris Hulls sold 16,042 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $47.07, for a total value of $755,096.94. Following the completion of the transaction, the director directly owned 406,899 shares of the company’s stock, valued at $19,152,735.93. This trade represents a 3.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brit Morin sold 4,655 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $55.00, for a total transaction of $256,025.00. Following the transaction, the director owned 25,975 shares of the company’s stock, valued at $1,428,625. This trade represents a 15.20% 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. Over the last quarter, insiders sold 57,006 shares of company stock worth $2,614,066. Insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Life360 from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. UBS Group dropped their price target on shares of Life360 from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings lowered shares of Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Evercore set a $68.00 target price on shares of Life360 in a report on Tuesday, May 12th. Finally, Canaccord Genuity Group set a $72.00 target price on Life360 in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.65.

Life360 Price Performance

LIF stock opened at $55.17 on Friday. The firm has a 50 day moving average of $47.56 and a 200-day moving average of $49.17. The company has a current ratio of 5.37, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52. Life360, Inc. has a 12 month low of $37.01 and a 12 month high of $112.54. The firm has a market capitalization of $4.47 billion, a P/E ratio of 31.89 and a beta of 2.34.

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.