38,013 Shares of Life360, Inc. $LIF Bought by Root Financial Partners LLC

Root Financial Partners LLC bought a new position in shares of Life360, Inc. (NASDAQ:LIF) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 38,013 shares of the company’s stock, valued at approximately $1,531,000.

A number of other institutional investors have also modified their holdings of the company. Cim Investment Management Inc. acquired a new position in Life360 during the second quarter valued at approximately $222,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Life360 during the second quarter worth approximately $317,000. Nykredit A S purchased a new stake in Life360 during the second quarter worth approximately $126,000. Amundi grew its stake in Life360 by 156.5% during the second quarter. Amundi now owns 12,969 shares of the company’s stock worth $718,000 after buying an additional 7,912 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Life360 in the second quarter worth $908,000. Hedge funds and other institutional investors own 20.00% of the company’s stock.

Life360 Stock Up 4.7%

LIF stock opened at $46.46 on Friday. Life360, Inc. has a twelve month low of $37.01 and a twelve month high of $100.18. The company has a current ratio of 5.60, a quick ratio of 5.46 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.79 billion, a P/E ratio of 27.17 and a beta of 2.27. The firm has a 50 day simple moving average of $42.92 and a 200-day simple moving average of $46.40.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. 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 report on Thursday, July 16th. DA Davidson restated a “neutral” rating and set a $40.00 target price on shares of Life360 in a report on Tuesday, September 29th. Wall Street Zen raised shares of Life360 from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. UBS Group decreased their price target 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, Weiss Ratings upgraded Life360 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.94.

Insider Activity at Life360

In other news, Director Chris Hulls sold 250,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $46.84, for a total value of $11,710,000.00. Following the sale, the director owned 382,056 shares in the company, valued at approximately $17,895,503.04. This represents a 39.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alex Haro sold 50,000 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $40.88, for a total transaction of $2,044,000.00. Following the completion of the sale, the director owned 1,010,303 shares in the company, valued at approximately $41,301,186.64. This trade represents a 4.72% decrease in their position. 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 sold 456,790 shares of company stock worth $21,269,295 over the last 90 days. Company insiders own 6.80% of the company’s stock.

Life360 Company Profile

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.