Legal & General Group Plc Makes New Investment in Life360, Inc. $LIF

Key Points

• Legal & General Group Plc acquired 171,006 Life360 shares worth approximately $9.47 million in the second quarter, giving it a 0.21% stake. Institutional investors collectively own about 20% of the company.
• Analysts maintain a generally positive outlook, with Life360 receiving a consensus “Moderate Buy” rating and an average price target of $60.72, although recent targets have varied and one analyst downgraded the stock to “sell.”
• Life360 reported quarterly revenue of $158.96 million, exceeding estimates, but earnings per share of $0.06 fell short of expectations. Meanwhile, insiders sold roughly 365,557 shares worth $17.75 million during the last quarter.

Legal & General Group Plc acquired a new position in shares of Life360, Inc. (NASDAQ:LIF - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 171,006 shares of the company's stock, valued at approximately $9,467,000. Legal & General Group Plc owned about 0.21% of Life360 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Strive Financial Group LLC purchased a new position in Life360 during the fourth quarter worth about $26,000. MCF Advisors LLC purchased a new stake in Life360 in the 4th quarter valued at about $32,000. NewEdge Advisors LLC purchased a new stake in Life360 in the 3rd quarter valued at about $32,000. IFP Advisors Inc acquired a new position in shares of Life360 during the 3rd quarter valued at about $47,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Life360 by 136.6% during the 4th quarter. Advisors Asset Management Inc. now owns 899 shares of the company's stock valued at $58,000 after acquiring an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 20.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Life360 from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Morgan Stanley set a $65.20 price target on shares of Life360 in a research report on Wednesday, August 12th. Citigroup cut their price target on shares of Life360 from $66.65 to $60.10 and set a "buy" rating on the stock in a research note on Thursday, August 13th. Bank of America boosted 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. Finally, Wall Street Zen downgraded Life360 from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.72.

Insider Activity at Life360

In other news, Director Chris Hulls sold 250,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $46.84, for a total value of $11,710,000.00. Following the completion of the sale, the director owned 382,056 shares of the company's stock, valued at $17,895,503.04. This represents a 39.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Philip Coghlan sold 4,000 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $54.82, for a total transaction of $219,280.00. Following the completion of the transaction, the director directly owned 20,431 shares in the company, valued at approximately $1,120,027.42. This represents a 16.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 365,557 shares of company stock valued at $17,747,371 over the last quarter. Company insiders own 6.80% of the company's stock.

Life360 Stock Performance

NASDAQ LIF opened at $41.87 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. Life360, Inc. has a 1-year low of $37.01 and a 1-year high of $112.54. The firm has a market capitalization of $3.41 billion, a P/E ratio of 24.49 and a beta of 2.25. The business's 50-day simple moving average is $52.42 and its 200-day simple moving average is $47.10.

Life360 (NASDAQ:LIF - Get Free Report) last posted its earnings results 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 return on equity of 5.66% and a net margin of 25.73%.The business had revenue of $158.96 million for the quarter, compared to analyst estimates of $156.68 million. Equities analysts predict that Life360, Inc. will post 0.53 EPS for the current year.

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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