Life360, Inc. $LIF Stock: State of Alaska Department of Revenue Cuts Stake

State of Alaska Department of Revenue trimmed its position in Life360, Inc. (NASDAQ:LIF) by 37.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,111 shares of the company’s stock after selling 11,997 shares during the quarter. State of Alaska Department of Revenue’s holdings in Life360 were worth $809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LIF. The Manufacturers Life Insurance Company bought a new position in shares of Life360 in the second quarter worth approximately $1,444,000. California State Teachers Retirement System lifted its stake in shares of Life360 by 23.5% during the 1st quarter. California State Teachers Retirement System now owns 86,635 shares of the company’s stock valued at $3,536,000 after buying an additional 16,461 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Life360 during the 2nd quarter valued at $15,547,000. Greenspring Advisors LLC bought a new position in Life360 in the 2nd quarter worth $9,592,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Life360 in the second quarter worth about $2,648,000. Institutional investors own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley set a $65.20 price objective on shares of Life360 in a report on Wednesday, August 12th. Weiss Ratings raised shares of Life360 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. DA Davidson restated a “neutral” rating and set a $40.00 target price on shares of Life360 in a research report on Tuesday, September 29th. UBS Group dropped their target price on shares of Life360 from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, Bank of America raised their price objective on Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. 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’s stock. According to MarketBeat.com, Life360 has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Life360 Stock Up 4.7%

Shares of NASDAQ:LIF opened at $46.46 on Friday. The company has a 50-day moving average price of $42.92 and a 200 day moving average price of $46.40. Life360, Inc. has a 12 month low of $37.01 and a 12 month high of $100.18. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 27.17 and a beta of 2.27. The company has a current ratio of 5.60, a quick ratio of 5.46 and a debt-to-equity ratio of 0.51.

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

Insiders Place Their Bets

In other Life360 news, Director Charles Prober sold 7,930 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $43.29, for a total value of $343,289.70. Following the completion of the sale, the director owned 109,930 shares of the company’s stock, valued at $4,758,869.70. This trade represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Synge sold 27,466 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $44.31, for a total value of $1,217,018.46. Following the transaction, the director directly owned 191,694 shares in the company, valued at approximately $8,493,961.14. This represents a 12.53% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 456,790 shares of company stock valued at $21,269,295. 6.80% of the stock is currently owned by company insiders.

About Life360

Life360, Inc is a technology company that develops connected safety and security products for families, individuals and pets. Its primary offering is the Life360 mobile application, which provides location sharing, family communication, driving safety tools, emergency assistance and other features intended to help users coordinate and stay connected.

The company also offers services such as crash detection, roadside assistance, SOS support and digital safety features. Through its ownership of Tile, Life360 provides Bluetooth-enabled finding devices and related tracking services for personal belongings.