Life360, Inc. $LIF Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its Life360 position by 59.3% in the fourth quarter, selling 19,825 shares and ending with 13,604 shares worth about $875,000.
• Several other institutional investors also moved into or added to Life360, and hedge funds and other institutions now own about 20.00% of the company.
• Analyst sentiment remains constructive, with Life360 carrying an average Moderate Buy rating and a consensus price target of $63.98, while the stock recently traded around $53.00.

Hsbc Holdings PLC decreased its position in Life360, Inc. (NASDAQ:LIF - Free Report) by 59.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,604 shares of the company's stock after selling 19,825 shares during the quarter. Hsbc Holdings PLC's holdings in Life360 were worth $875,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in LIF. Wilson Asset Management International PTY Ltd. lifted its position in shares of Life360 by 108.6% during the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 50,000 shares of the company's stock worth $3,207,000 after purchasing an additional 26,028 shares during the last quarter. Greenspring Advisors LLC acquired a new position in shares of Life360 during the fourth quarter worth $21,720,000. XY Capital Ltd purchased a new position in Life360 in the fourth quarter valued at $6,063,000. Milford Funds Ltd. purchased a new position in Life360 in the fourth quarter valued at $9,604,000. Finally, Hodges Capital Management Inc. increased its holdings in Life360 by 36.4% in the fourth quarter. Hodges Capital Management Inc. now owns 63,546 shares of the company's stock valued at $4,076,000 after buying an additional 16,972 shares during the last quarter. Hedge funds and other institutional investors own 20.00% of the company's stock.

Wall Street Analyst Weigh In

LIF has been the subject of a number of recent analyst reports. Macquarie Infrastructure assumed coverage on Life360 in a report on Tuesday, April 28th. They set an "outperform" rating and a $32.20 price target for the company. Bank of America assumed coverage on Life360 in a report on Wednesday, April 22nd. They issued a "buy" rating and a $60.00 price objective on the stock. UBS Group cut their target price on Life360 from $75.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Evercore set a $68.00 target price on Life360 in a research note on Tuesday, May 12th. Finally, DA Davidson upped their price target on Life360 from $40.00 to $42.00 and gave the company a "neutral" rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $63.98.

Insider Transactions at Life360

In other Life360 news, Director Charles J. Prober sold 7,930 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $46.07, for a total value of $365,335.10. Following the completion of the sale, the director owned 109,911 shares in the company, valued at approximately $5,063,599.77. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brit Morin sold 4,655 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $55.00, for a total value of $256,025.00. Following the completion of the sale, the director owned 25,975 shares of the company's stock, valued at approximately $1,428,625. This represents a 15.20% 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. Over the last quarter, insiders sold 75,827 shares of company stock worth $3,469,849. Insiders own 6.80% of the company's stock.

Life360 Stock Up 1.5%

LIF opened at $53.00 on Wednesday. The business's 50-day simple moving average is $47.10 and its 200-day simple moving average is $49.32. The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.23 and a current ratio of 5.37. Life360, Inc. has a one year low of $37.01 and a one year high of $112.54. The stock has a market capitalization of $4.29 billion, a P/E ratio of 30.64 and a beta of 2.34.

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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