Ieq Capital LLC Takes Position in Life360, Inc. $LIF

Key Points

• Ieq Capital LLC purchased 31,071 Life360 shares worth approximately $1.72 million in the second quarter. Institutional investors now own 20% of the company.
• Life360 reported quarterly revenue of $158.96 million, exceeding estimates, but earnings of $0.06 per share missed expectations of $0.08. Shares opened at $44.55, below their 50-day moving average of $52.91.
• Insiders sold 352,637 shares worth approximately $17.1 million over the past quarter, including a 250,000-share sale by Director Chris Hulls. Analysts maintain a “Moderate Buy” consensus with an average price target of $60.72.

Ieq Capital LLC purchased a new position in shares of Life360, Inc. (NASDAQ:LIF - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,071 shares of the company's stock, valued at approximately $1,720,000.

Several other hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of Life360 by 0.4% in the second quarter. California State Teachers Retirement System now owns 61,697 shares of the company's stock valued at $4,026,000 after purchasing an additional 254 shares during the period. Swiss Life Asset Management Ltd boosted its position in shares of Life360 by 8.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 3,617 shares of the company's stock worth $232,000 after buying an additional 273 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Life360 by 21.1% during the fourth quarter. Russell Investments Group Ltd. now owns 1,673 shares of the company's stock worth $107,000 after buying an additional 292 shares during the period. NewEdge Advisors LLC bought a new position in Life360 in the 3rd quarter worth approximately $32,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Life360 by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,127 shares of the company's stock worth $1,379,000 after buying an additional 343 shares in the last quarter. 20.00% of the stock is currently owned by institutional investors.

Life360 Stock Performance

Shares of LIF opened at $44.55 on Wednesday. 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's 50 day moving average is $52.91 and its 200-day moving average is $47.48. Life360, Inc. has a 12-month low of $37.01 and a 12-month high of $112.54. The stock has a market capitalization of $3.63 billion, a P/E ratio of 26.05 and a beta of 2.35.

Life360 (NASDAQ:LIF - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $158.96 million for the quarter, compared to analyst estimates of $156.68 million. Life360 had a net margin of 25.73% and a return on equity of 5.66%. Equities research analysts anticipate that Life360, Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John Philip Coghlan sold 4,000 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $54.82, for a total transaction of $219,280.00. Following the completion of the sale, the director directly owned 20,431 shares of the company's stock, valued at $1,120,027.42. This trade represents a 16.37% decrease in their position. The transaction was disclosed in a legal 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 Chris Hulls sold 250,000 shares of Life360 stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $46.84, for a total value of $11,710,000.00. Following the completion of the transaction, the director owned 382,056 shares in the company, valued at $17,895,503.04. The trade was a 39.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 352,637 shares of company stock worth $17,104,265 over the last quarter. 6.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LIF shares. Evercore set a $68.00 price target on Life360 in a research report on Tuesday, May 12th. UBS Group lowered their price target on Life360 from $64.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. Wall Street Zen cut shares of Life360 from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. DA Davidson upped their price objective on shares of Life360 from $42.00 to $47.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Finally, Canaccord Genuity Group set a $72.00 target price on shares of Life360 in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Life360 has an average rating of "Moderate Buy" and an average price target of $60.72.

Life360 Company 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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