Bank of New York Mellon Corp Buys 418,493 Shares of Life360, Inc. (NASDAQ:LIF)

Bank of New York Mellon Corp grew its position in Life360, Inc. (NASDAQ:LIF - Free Report) by 320.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 549,272 shares of the company's stock after acquiring an additional 418,493 shares during the period. Bank of New York Mellon Corp owned 0.72% of Life360 worth $21,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Millennium Management LLC boosted its holdings in Life360 by 9.2% in the 4th quarter. Millennium Management LLC now owns 1,114,922 shares of the company's stock valued at $46,013,000 after purchasing an additional 94,077 shares during the period. Franklin Resources Inc. increased its holdings in Life360 by 402.9% during the fourth quarter. Franklin Resources Inc. now owns 539,592 shares of the company's stock worth $22,269,000 after buying an additional 432,292 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Life360 by 86.2% in the fourth quarter. Marshall Wace LLP now owns 411,326 shares of the company's stock worth $16,975,000 after purchasing an additional 190,422 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Life360 by 49.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 303,393 shares of the company's stock valued at $12,521,000 after purchasing an additional 100,217 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Life360 by 19.0% in the 4th quarter. Nuveen Asset Management LLC now owns 232,537 shares of the company's stock worth $9,597,000 after acquiring an additional 37,091 shares during the last quarter. Institutional investors and hedge funds own 20.00% of the company's stock.

Insiders Place Their Bets

In other Life360 news, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction on Monday, July 14th. The shares were sold at an average price of $64.41, for a total value of $510,771.30. Following the completion of the sale, the director directly owned 105,456 shares of the company's stock, valued at approximately $6,792,420.96. The trade was a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brit Morin sold 448 shares of the company's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $63.23, for a total transaction of $28,327.04. Following the completion of the sale, the director directly owned 25,994 shares of the company's stock, valued at $1,643,600.62. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,293 shares of company stock worth $6,786,026 in the last three months. Insiders own 8.00% of the company's stock.

Life360 Stock Up 1.4%

Shares of Life360 stock opened at $71.42 on Friday. Life360, Inc. has a 12 month low of $28.94 and a 12 month high of $71.67. The business has a fifty day simple moving average of $62.53 and a 200-day simple moving average of $48.83. The stock has a market cap of $5.47 billion and a PE ratio of 793.56.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.09. Life360 had a return on equity of 4.05% and a net margin of 2.42%. The company had revenue of $103.62 million for the quarter, compared to the consensus estimate of $101.48 million. Analysts expect that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LIF shares. Stifel Nicolaus reduced their target price on shares of Life360 from $52.00 to $48.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. UBS Group raised their price target on Life360 from $57.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Citigroup reissued an "outperform" rating on shares of Life360 in a report on Monday, June 16th. Loop Capital upped their price target on Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, JMP Securities increased their price objective on Life360 from $55.00 to $62.00 and gave the company a "market outperform" rating in a report on Monday, June 16th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $59.50.

About Life360

Life360 Inc is a family connection and safety company. Its business category includes mobile app and Tile tracking devices with a range of services, including location sharing, safe driver reports and crash detection with emergency dispatch. Life360 Inc is based in SAN FRANCISCO.

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