Bank of New York Mellon Corp Invests $15.55 Million in Life360, Inc. $LIF

Bank of New York Mellon Corp bought a new position in Life360, Inc. (NASDAQ:LIF - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 280,827 shares of the company's stock, valued at approximately $15,547,000. Bank of New York Mellon Corp owned about 0.35% of Life360 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Life360 in the 4th quarter worth approximately $47,097,000. Principal Financial Group Inc. grew its holdings in shares of Life360 by 455.0% in the first quarter. Principal Financial Group Inc. now owns 463,442 shares of the company's stock valued at $18,918,000 after acquiring an additional 379,941 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Life360 by 86.3% during the third quarter. Franklin Resources Inc. now owns 760,122 shares of the company's stock valued at $80,801,000 after acquiring an additional 352,110 shares during the last quarter. Greenspring Advisors LLC purchased a new position in Life360 in the fourth quarter worth $21,720,000. Finally, Bank of America Corp DE grew its stake in Life360 by 312.8% in the 1st quarter. Bank of America Corp DE now owns 407,296 shares of the company's stock valued at $16,626,000 after purchasing an additional 308,632 shares during the period. 20.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LIF. Weiss Ratings upgraded Life360 from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 21st. Evercore set a $68.00 price target on shares of Life360 in a research report on Tuesday, May 12th. Morgan Stanley set a $65.20 price objective on shares of Life360 in a report on Wednesday, August 12th. Wall Street Zen lowered shares of Life360 from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, UBS Group dropped their target price on shares of Life360 from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.72.

Life360 Price Performance

Life360 stock opened at $42.86 on Tuesday. Life360, Inc. has a one year low of $37.01 and a one year high of $112.54. The business has a fifty day moving average price of $52.52 and a 200-day moving average price of $47.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.60 and a quick ratio of 5.46. The firm has a market capitalization of $3.49 billion, a P/E ratio of 25.06 and a beta of 2.35.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly earnings data 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). Life360 had a net margin of 25.73% and a return on equity of 5.66%. The company had revenue of $158.96 million for the quarter, compared to the consensus estimate of $156.68 million. As a group, equities research analysts forecast that Life360, Inc. will post 0.53 EPS for the current year.

Insider Activity

In other news, Director John Philip Coghlan sold 4,000 shares of the company's stock in a transaction 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 transaction, the director owned 20,431 shares of the company's stock, valued at approximately $1,120,027.42. This represents a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles J. Prober sold 7,930 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $46.07, for a total value of $365,335.10. Following the completion of the sale, the director owned 109,911 shares in the company, valued at $5,063,599.77. This trade represents a 6.73% 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. Over the last three months, insiders sold 365,557 shares of company stock worth $17,747,371. Company insiders own 6.80% of the company's stock.

About Life360

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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