Federated Hermes Inc. Grows Position in Life360, Inc. (NASDAQ:LIF)

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

A number of other large investors also recently modified their holdings of the stock. Teacher Retirement System of Texas raised its holdings in shares of Life360 by 81.8% in the first quarter. Teacher Retirement System of Texas now owns 13,365 shares of the company's stock valued at $513,000 after purchasing an additional 6,014 shares during the last quarter. Emerald Advisers LLC increased its stake in Life360 by 53.8% in 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 last quarter. Barclays PLC lifted its position in shares of Life360 by 280.6% during the 4th quarter. Barclays PLC now owns 30,952 shares of the company's stock worth $1,278,000 after buying an additional 22,820 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Life360 by 320.0% in the 1st quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company's stock worth $21,087,000 after buying an additional 418,493 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Life360 by 2,816.3% during the fourth quarter. BNP Paribas Financial Markets now owns 72,996 shares of the company's stock valued at $3,013,000 after acquiring an additional 70,493 shares during the last quarter. Institutional investors own 20.00% of the company's stock.

Life360 Trading Down 3.2%

Shares of LIF stock traded down $2.48 during midday trading on Thursday, reaching $75.27. 859,830 shares of the stock were exchanged, compared to its average volume of 651,195. Life360, Inc. has a 1 year low of $29.12 and a 1 year high of $78.32. The firm has a market cap of $5.76 billion, a PE ratio of 836.33 and a beta of 3.46. The company's 50 day moving average is $67.29 and its two-hundred day moving average is $52.10.

Life360 (NASDAQ:LIF - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.09. Life360 had a net margin of 2.42% and a return on equity of 4.05%. The business had revenue of $103.62 million during the quarter, compared to the consensus estimate of $101.48 million. As a group, equities analysts expect that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JMP Securities boosted their price objective on Life360 from $55.00 to $62.00 and gave the stock a "market outperform" rating in a research report on Monday, June 16th. Wall Street Zen cut Life360 from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Canaccord Genuity Group upped their price objective on shares of Life360 from $75.00 to $86.00 and gave the company a "buy" rating in a report on Monday, July 28th. UBS Group boosted their price target on shares of Life360 from $57.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, Stifel Nicolaus lifted their price objective on shares of Life360 from $48.00 to $87.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $71.00.

Insider Buying and Selling at Life360

In other Life360 news, General Counsel Susan L. Stick sold 500 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $75.51, for a total transaction of $37,755.00. Following the completion of the sale, the general counsel directly owned 105,422 shares in the company, valued at $7,960,415.22. The trade was a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $75.87, for a total transaction of $235,500.48. Following the sale, the chief financial officer directly owned 196,418 shares of the company's stock, valued at approximately $14,902,233.66. This represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,293 shares of company stock worth $7,180,429. Insiders own 8.00% of the company's stock.

About Life360

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.