Jacobs Levy Equity Management Inc. Raises Holdings in Life360, Inc. $LIF

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its stake in Life360, Inc. by 596.9%, acquiring an additional 119,753 shares in Q1, bringing its total ownership to 139,817 shares valued at $5.37 million.
• Life360 received multiple upgrades from analysts, with seven analysts currently rating it as a Buy and a consensus price target of $86.43.
• Insider trading activity showed Director James Synge and CFO Russell John Burke each sold a significant number of shares, contributing to a total of 227,640 shares sold by insiders in the last 90 days, valued at over $17.5 million.

Jacobs Levy Equity Management Inc. raised its position in shares of Life360, Inc. (NASDAQ:LIF - Free Report) by 596.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,817 shares of the company's stock after acquiring an additional 119,753 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.18% of Life360 worth $5,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of LIF. Teacher Retirement System of Texas raised its holdings in Life360 by 81.8% during the 1st quarter. Teacher Retirement System of Texas now owns 13,365 shares of the company's stock valued at $513,000 after buying an additional 6,014 shares during the period. Emerald Advisers LLC raised its holdings in Life360 by 53.8% during the 1st quarter. Emerald Advisers LLC now owns 270,817 shares of the company's stock valued at $10,397,000 after buying an additional 94,679 shares during the period. Invesco Ltd. purchased a new stake in Life360 during the 1st quarter valued at $540,000. Federated Hermes Inc. raised its holdings in Life360 by 75.6% during the 1st quarter. Federated Hermes Inc. now owns 48,773 shares of the company's stock valued at $1,872,000 after buying an additional 21,004 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Life360 by 320.0% during the 1st quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company's stock valued at $21,087,000 after buying an additional 418,493 shares during the period. 20.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Life360 news, CFO Russell John Burke sold 16,287 shares of Life360 stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $90.42, for a total value of $1,472,670.54. Following the transaction, the chief financial officer owned 63,030 shares in the company, valued at $5,699,172.60. The trade was a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Philip Coghlan sold 10,000 shares of Life360 stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $85.01, for a total value of $850,100.00. Following the completion of the transaction, the director owned 67,604 shares in the company, valued at $5,747,016.04. This trade represents a 12.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,114 shares of company stock valued at $14,118,504 over the last three months. Corporate insiders own 8.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on LIF. Stifel Nicolaus increased their target price on Life360 from $87.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Citigroup began coverage on Life360 in a research note on Thursday, July 31st. They issued a "buy" rating and a $90.00 target price on the stock. JMP Securities increased their target price on Life360 from $62.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 12th. UBS Group reiterated a "buy" rating and issued a $85.00 target price (up previously from $71.00) on shares of Life360 in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded Life360 from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $86.43.

Life360 Stock Up 2.0%

Shares of Life360 stock traded up $1.94 during trading on Friday, hitting $100.24. 803,558 shares of the stock traded hands, compared to its average volume of 687,091. The firm has a market cap of $7.77 billion, a P/E ratio of 313.26 and a beta of 3.50. The company has a current ratio of 7.14, a quick ratio of 7.01 and a debt-to-equity ratio of 0.84. Life360, Inc. has a 52-week low of $29.62 and a 52-week high of $103.65. The stock's fifty day simple moving average is $80.39 and its 200 day simple moving average is $59.69.

Life360 (NASDAQ:LIF - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.02 by $0.06. The firm had revenue of $115.38 million for the quarter, compared to analyst estimates of $109.33 million. Life360 had a return on equity of 7.65% and a net margin of 6.45%. Life360 has set its FY 2025 guidance at EPS. On average, equities analysts predict that Life360, Inc. will post -0.17 earnings per share for the current fiscal year.

Life360 Profile

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.