California State Teachers Retirement System Acquires 16,461 Shares of Life360, Inc. $LIF

Key Points

• California State Teachers Retirement System increased its Life360 stake by 23.5%, adding 16,461 shares to own 86,635 shares valued at approximately $3.54 million. Institutional investors collectively own about 20% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $64.81. Price targets from several firms range from $60.15 to $72.00.
• Life360 shares opened at $63.19, while insiders sold 94,707 shares worth about $5.01 million during the past quarter. The company has a market capitalization of approximately $5.12 billion and a 52-week range of $37.01 to $112.54.

California State Teachers Retirement System lifted its holdings in shares of Life360, Inc. (NASDAQ:LIF - Free Report) by 23.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 86,635 shares of the company's stock after buying an additional 16,461 shares during the period. California State Teachers Retirement System owned about 0.11% of Life360 worth $3,536,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LIF shares. Morgan Stanley started coverage on shares of Life360 in a research note on Tuesday, July 21st. They issued an "overweight" rating and a $66.24 price target on the stock. Canaccord Genuity Group set a $72.00 price objective on shares of Life360 in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of Life360 from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Macquarie Infrastructure started coverage on shares of Life360 in a research report on Tuesday, April 28th. They issued an "outperform" rating and a $32.20 target price on the stock. Finally, Citigroup boosted their target price on shares of Life360 from $60.15 to $66.65 and gave the stock a "buy" rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Life360 currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.81.

Insider Buying and Selling at Life360

In other news, Director Brit Morin sold 10,701 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $642,060.00. Following the completion of the transaction, the director owned 20,157 shares of the company's stock, valued at approximately $1,209,420. This trade represents a 34.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Chris Hulls sold 27,000 shares of Life360 stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $63.34, for a total transaction of $1,710,180.00. Following the transaction, the director owned 419,554 shares in the company, valued at approximately $26,574,550.36. This trade represents a 6.05% decrease in their position. 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 quarter, insiders have sold 94,707 shares of company stock valued at $5,008,946. Insiders own 6.80% of the company's stock.

Life360 Stock Up 5.9%

Shares of NASDAQ LIF opened at $63.19 on Friday. The company has a 50 day simple moving average of $52.43 and a 200 day simple moving average of $48.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.37 and a quick ratio of 5.23. Life360, Inc. has a 1 year low of $37.01 and a 1 year high of $112.54. The firm has a market cap of $5.12 billion, a PE ratio of 36.53 and a beta of 2.35.

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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