Bank of America Corp DE Purchases 308,632 Shares of Life360, Inc. $LIF

Bank of America Corp DE increased its position in Life360, Inc. (NASDAQ:LIF - Free Report) by 312.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 407,296 shares of the company's stock after purchasing an additional 308,632 shares during the quarter. Bank of America Corp DE owned approximately 0.50% of Life360 worth $16,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Life360 in the 4th quarter worth about $47,097,000. Principal Financial Group Inc. grew its holdings in Life360 by 455.0% in the first quarter. Principal Financial Group Inc. now owns 463,442 shares of the company's stock worth $18,918,000 after purchasing an additional 379,941 shares during the period. Franklin Resources Inc. grew its holdings in Life360 by 86.3% in the third quarter. Franklin Resources Inc. now owns 760,122 shares of the company's stock worth $80,801,000 after purchasing an additional 352,110 shares during the period. Greenspring Advisors LLC bought a new position in shares of Life360 during the fourth quarter valued at approximately $21,720,000. Finally, Invesco Ltd. lifted its holdings in shares of Life360 by 171.3% during the third quarter. Invesco Ltd. now owns 444,923 shares of the company's stock valued at $47,295,000 after purchasing an additional 280,953 shares during the last quarter. 20.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on LIF. Bank of America boosted their price target on Life360 from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Canaccord Genuity Group set a $72.00 price objective on Life360 in a research note on Tuesday, May 12th. Citigroup dropped their target price on Life360 from $66.65 to $60.10 and set a "buy" rating on the stock in a report on Thursday, August 13th. Macquarie Infrastructure started coverage on Life360 in a research note on Tuesday, April 28th. They issued an "outperform" rating and a $32.20 target price on the stock. Finally, Evercore set a $68.00 price target on Life360 in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Life360 presently has a consensus rating of "Moderate Buy" and an average target price of $60.72.

Life360 Trading Up 6.1%

Shares of NASDAQ:LIF opened at $45.82 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.60 and a quick ratio of 5.46. Life360, Inc. has a 1 year low of $37.01 and a 1 year high of $112.54. The company has a market cap of $3.73 billion, a P/E ratio of 26.80 and a beta of 2.35. The stock's fifty day moving average price is $53.06 and its 200-day moving average price is $47.76.

Life360 (NASDAQ:LIF - Get Free Report) last released 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 business had revenue of $158.96 million during the quarter, compared to the consensus estimate of $156.68 million. Sell-side analysts expect that Life360, Inc. will post 0.53 earnings per share for the current year.

Insider Activity at Life360

In other Life360 news, Director John Philip Coghlan sold 4,000 shares of Life360 stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $54.82, for a total value of $219,280.00. Following the completion of the sale, the director owned 20,431 shares of the company's stock, valued at approximately $1,120,027.42. The trade was a 16.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 on Thursday, August 13th. The shares were sold at an average price of $48.59, for a total transaction of $385,318.70. Following the sale, the director owned 109,930 shares of the company's stock, valued at approximately $5,341,498.70. This 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 90 days, insiders sold 352,637 shares of company stock worth $17,104,265. Company insiders own 6.80% of the company's stock.

Life360 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.

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