Ieq Capital LLC Purchases New Holdings in Life360, Inc. $LIF

Ieq Capital LLC acquired a new position in Life360, Inc. (NASDAQ:LIF) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 31,071 shares of the company’s stock, valued at approximately $1,720,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Greenspring Advisors LLC acquired a new stake in Life360 during the 2nd quarter valued at $9,592,000. Deutsche Bank AG acquired a new stake in shares of Life360 in the second quarter worth $1,436,000. Roman Butler Fullerton & Co. purchased a new position in shares of Life360 during the second quarter valued at $379,000. Bank of New York Mellon Corp purchased a new position in shares of Life360 during the second quarter valued at $15,547,000. Finally, Handelsbanken Fonder AB raised its position in Life360 by 2.4% during the second quarter. Handelsbanken Fonder AB now owns 25,300 shares of the company’s stock valued at $1,401,000 after buying an additional 600 shares during the period. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a research report on Thursday, August 13th. Wall Street Zen downgraded shares of Life360 from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Canaccord Genuity Group set a $72.00 target price on shares of Life360 in a research note on Tuesday, May 12th. Bank of America upped their price target on shares of Life360 from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, UBS Group cut their price objective on Life360 from $64.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Life360 has a consensus rating of “Moderate Buy” and an average target price of $60.72.

Insider Buying and Selling

In related news, Director Brit Morin sold 10,701 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 20,157 shares of the company’s stock, valued at approximately $1,209,420. This trade represents a 34.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles J. Prober sold 7,930 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $48.59, for a total value of $385,318.70. Following the completion of the sale, the director owned 109,930 shares of the company’s stock, valued at approximately $5,341,498.70. This trade represents a 6.73% 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. In the last quarter, insiders sold 352,637 shares of company stock worth $17,104,265. Insiders own 6.80% of the company’s stock.

Life360 Price Performance

NASDAQ LIF opened at $44.55 on Wednesday. The company has a 50 day moving average price of $52.91 and a two-hundred day moving average price of $47.48. Life360, Inc. has a 12-month low of $37.01 and a 12-month high of $112.54. The stock has a market capitalization of $3.63 billion, a PE ratio of 26.05 and a beta of 2.35. The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51.

Life360 (NASDAQ:LIF) last posted 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). Life360 had a net margin of 25.73% and a return on equity of 5.66%. The company had revenue of $158.96 million for the quarter, compared to the consensus estimate of $156.68 million. As a group, equities analysts predict that Life360, Inc. will post 0.53 earnings per share for the current fiscal year.

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.