Bank of New York Mellon Corp Purchases 178,040 Shares of Life360, Inc. $LIF

Bank of New York Mellon Corp increased its position in shares of Life360, Inc. (NASDAQ:LIF) by 140.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 305,023 shares of the company’s stock after purchasing an additional 178,040 shares during the quarter. Bank of New York Mellon Corp’s holdings in Life360 were worth $12,451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Strive Financial Group LLC bought a new position in shares of Life360 during the fourth quarter worth approximately $26,000. MCF Advisors LLC acquired a new stake in shares of Life360 in the fourth quarter valued at approximately $32,000. NewEdge Advisors LLC bought a new stake in shares of Life360 in the third quarter valued at approximately $32,000. IFP Advisors Inc bought a new position in Life360 during the 3rd quarter worth $47,000. Finally, Advisors Asset Management Inc. raised its holdings in Life360 by 136.6% in the 4th quarter. Advisors Asset Management Inc. now owns 899 shares of the company’s stock valued at $58,000 after acquiring an additional 519 shares in the last quarter. 20.00% of the stock is currently owned by institutional investors.

Insider Transactions at Life360

In other Life360 news, Director John Philip Coghlan sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $56.07, for a total value of $224,280.00. Following the completion of the transaction, the director directly owned 24,431 shares in the company, valued at approximately $1,369,846.17. This represents a 14.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Chris Hulls sold 16,379 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $40.34, for a total transaction of $660,728.86. Following the sale, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 53,006 shares of company stock worth $2,437,426 in the last 90 days. 6.80% of the stock is currently owned by company insiders.

Life360 Trading Down 2.9%

NASDAQ LIF opened at $54.05 on Friday. The company has a quick ratio of 5.23, a current ratio of 5.37 and a debt-to-equity ratio of 0.52. Life360, Inc. has a twelve month low of $37.01 and a twelve month high of $112.54. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 31.24 and a beta of 2.34. The business’s fifty day moving average is $50.47 and its 200 day moving average is $48.40.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LIF. Weiss Ratings downgraded Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Citigroup upped their price objective on shares of Life360 from $60.15 to $66.65 and gave the stock a “buy” rating in a research report on Monday, July 6th. Bank of America increased their price objective 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. Macquarie Infrastructure assumed coverage on shares of Life360 in a report on Tuesday, April 28th. They issued an “outperform” rating and a $32.20 target price on the stock. Finally, DA Davidson upped their price target on shares of Life360 from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.81.

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.