First Trust Advisors LP Cuts Stock Holdings in Life360, Inc. $LIF

Key Points

• First Trust Advisors LP cut its Life360 stake by 50.8% in the first quarter, selling 45,080 shares and retaining 43,726 shares worth approximately $1.785 million.
• Other institutional investors, including Geode Capital, State Street and Franklin Resources, increased their positions; hedge funds and institutions collectively own about 20% of Life360.
• Life360 insiders sold 94,707 shares worth roughly $5.0 million over the past three months, while analysts maintain a generally positive outlook with a “Moderate Buy” consensus and an average price target of $64.81.

First Trust Advisors LP reduced its stake in Life360, Inc. (NASDAQ:LIF - Free Report) by 50.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,726 shares of the company's stock after selling 45,080 shares during the period. First Trust Advisors LP owned approximately 0.05% of Life360 worth $1,785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in Life360 by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 1,153,096 shares of the company's stock worth $74,372,000 after purchasing an additional 85,857 shares during the period. State Street Corp raised its position in shares of Life360 by 17.3% during the 4th quarter. State Street Corp now owns 905,153 shares of the company's stock worth $58,057,000 after acquiring an additional 133,722 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Life360 by 86.3% during the 3rd quarter. Franklin Resources Inc. now owns 760,122 shares of the company's stock worth $80,801,000 after buying an additional 352,110 shares during the last quarter. Norges Bank acquired a new stake in Life360 during the 4th quarter worth $47,097,000. Finally, Federated Hermes Inc. lifted its position in Life360 by 31.7% in the fourth quarter. Federated Hermes Inc. now owns 588,182 shares of the company's stock valued at $37,726,000 after acquiring an additional 141,438 shares during the last quarter. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Life360

In related news, Director Chris Hulls sold 27,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $26,574,550.36. This trade represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brit Morin sold 10,701 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total value of $642,060.00. Following the completion of the transaction, the director owned 20,157 shares in the company, valued at $1,209,420. This trade represents a 34.68% 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. In the last three months, insiders have sold 94,707 shares of company stock valued at $5,008,946. Company insiders own 6.80% of the company's stock.

Wall Street Analysts Forecast Growth

LIF has been the subject of several research analyst reports. Bank of America upped their price objective on shares of Life360 from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Citigroup lifted their target price on Life360 from $60.15 to $66.65 and gave the stock a "buy" rating in a research report on Monday, July 6th. Weiss Ratings downgraded Life360 from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, May 12th. Wall Street Zen cut Life360 from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Morgan Stanley started coverage on Life360 in a research note on Tuesday, July 21st. They set an "overweight" rating and a $66.24 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $64.81.

Life360 Stock Up 5.9%

Shares of NASDAQ:LIF opened at $63.19 on Friday. The stock has a market cap of $5.12 billion, a P/E ratio of 36.53 and a beta of 2.35. The firm has a fifty day moving average price of $52.43 and a 200 day moving average price 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.

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.

Want to see what other hedge funds are holding LIF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Life360, Inc. (NASDAQ:LIF - Free Report).

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