Life360, Inc. (NASDAQ:LIF) Shares Acquired by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its holdings in Life360, Inc. by 75.6% during the first quarter, owning 48,773 shares valued at approximately $1.87 million.
• Several institutional investors, including the Bank of New York Mellon Corp, boosted their positions significantly, with some increasing their stakes by over 300% in the same period.
• Analysts have mixed ratings on Life360, with a consensus rating of "Moderate Buy" and a price target averaging around $71, following reports of mixed quarterly earnings.

Federated Hermes Inc. boosted its stake in shares of Life360, Inc. (NASDAQ:LIF - Free Report) by 75.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,773 shares of the company's stock after purchasing an additional 21,004 shares during the quarter. Federated Hermes Inc. owned approximately 0.06% of Life360 worth $1,872,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Millennium Management LLC grew its position in shares of Life360 by 9.2% during the fourth quarter. Millennium Management LLC now owns 1,114,922 shares of the company's stock worth $46,013,000 after buying an additional 94,077 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Life360 by 320.0% in the first quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company's stock valued at $21,087,000 after acquiring an additional 418,493 shares in the last quarter. Marshall Wace LLP lifted its stake in Life360 by 86.2% in the fourth quarter. Marshall Wace LLP now owns 411,326 shares of the company's stock worth $16,975,000 after acquiring an additional 190,422 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in Life360 by 49.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 303,393 shares of the company's stock worth $12,521,000 after acquiring an additional 100,217 shares in the last quarter. Finally, Emerald Advisers LLC grew its holdings in Life360 by 53.8% during the 1st quarter. Emerald Advisers LLC now owns 270,817 shares of the company's stock worth $10,397,000 after acquiring an additional 94,679 shares in the last quarter. Institutional investors and hedge funds own 20.00% of the company's stock.

Insider Transactions at Life360

In related news, Director John Philip Coghlan sold 3,125 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $61.03, for a total value of $190,718.75. Following the completion of the sale, the director owned 29,778 shares in the company, valued at $1,817,351.34. This represents a 9.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brit Morin sold 47,584 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $61.14, for a total transaction of $2,909,285.76. Following the sale, the director owned 26,442 shares of the company's stock, valued at approximately $1,616,663.88. This represents a 64.28% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,293 shares of company stock worth $7,180,429. 8.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LIF shares. Citigroup initiated coverage on shares of Life360 in a report on Thursday, July 31st. They issued a "buy" rating and a $90.00 price objective on the stock. Stifel Nicolaus increased their target price on Life360 from $48.00 to $87.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. JMP Securities raised their price target on Life360 from $55.00 to $62.00 and gave the company a "market outperform" rating in a research note on Monday, June 16th. Wall Street Zen cut Life360 from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Loop Capital increased their price objective on Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $71.00.

Life360 Stock Down 1.9%

LIF traded down $1.42 on Friday, reaching $73.85. The company had a trading volume of 522,451 shares, compared to its average volume of 699,969. Life360, Inc. has a 1 year low of $29.62 and a 1 year high of $78.32. The stock has a market capitalization of $5.65 billion, a PE ratio of 820.56 and a beta of 3.46. The stock has a 50-day moving average price of $67.73 and a 200-day moving average price of $52.52.

Life360 (NASDAQ:LIF - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.09. The business had revenue of $103.62 million during the quarter, compared to the consensus estimate of $101.48 million. Life360 had a return on equity of 4.05% and a net margin of 2.42%. As a group, analysts expect 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.