Lord Abbett & CO. LLC Boosts Stake in Life360, Inc. $LIF

Key Points

• Lord Abbett & CO. LLC increased its stake in Life360, Inc. by 7.6%, acquiring an additional 23,156 shares, bringing their total ownership to 326,549 shares valued at approximately $12.54 million.
• Several other institutional investors significantly boosted their stakes, including Summit Investment Advisors which increased by 82.3% and GAMMA Investing LLC which raised their stake by a staggering 2,938.9%.
• Life360 reported earnings that beat analyst expectations, with $0.08 earnings per share against a forecast of $0.02, and a revenue of $115.38 million for the last quarter.

Lord Abbett & CO. LLC raised its holdings in shares of Life360, Inc. (NASDAQ:LIF - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 326,549 shares of the company's stock after buying an additional 23,156 shares during the quarter. Lord Abbett & CO. LLC owned about 0.43% of Life360 worth $12,536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Summit Investment Advisors Inc. grew its position in Life360 by 82.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company's stock worth $44,000 after buying an additional 484 shares in the last quarter. WealthPlan Investment Management LLC grew its position in Life360 by 5.6% during the first quarter. WealthPlan Investment Management LLC now owns 10,550 shares of the company's stock worth $405,000 after buying an additional 558 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Life360 by 937.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,189 shares of the company's stock worth $84,000 after buying an additional 1,978 shares in the last quarter. GAMMA Investing LLC grew its position in Life360 by 2,938.9% during the first quarter. GAMMA Investing LLC now owns 2,188 shares of the company's stock worth $84,000 after buying an additional 2,116 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Life360 by 433.3% during the first quarter. New York State Common Retirement Fund now owns 3,200 shares of the company's stock worth $123,000 after purchasing an additional 2,600 shares during the last quarter. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Life360 news, COO Lauren Antonoff sold 4,546 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $62.50, for a total transaction of $284,125.00. Following the completion of the transaction, the chief operating officer owned 312,324 shares of the company's stock, valued at $19,520,250. This represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles J. Prober sold 7,942 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $61.63, for a total value of $489,465.46. Following the transaction, the director owned 105,456 shares in the company, valued at $6,499,253.28. This trade represents a 7.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 170,723 shares of company stock worth $12,074,884.

Life360 Trading Down 1.6%

Shares of NASDAQ LIF traded down $1.4050 during midday trading on Wednesday, reaching $84.1950. The company had a trading volume of 741,664 shares, compared to its average volume of 675,107. Life360, Inc. has a one year low of $29.62 and a one year high of $89.80. The company has a quick ratio of 7.01, a current ratio of 7.14 and a debt-to-equity ratio of 0.84. The firm's fifty day moving average price is $70.65 and its 200-day moving average price is $54.39. The stock has a market cap of $6.53 billion, a PE ratio of 263.87 and a beta of 3.46.

Life360 (NASDAQ:LIF - Get Free Report) last released its earnings results on Monday, August 11th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. The company had revenue of $115.38 million during 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 research analysts anticipate that Life360, Inc. will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on LIF. Citigroup began coverage on Life360 in a research note on Thursday, July 31st. They set a "buy" rating and a $90.00 price target for the company. Stifel Nicolaus lifted their price target on Life360 from $87.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Evercore ISI lifted their price target on Life360 from $55.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Canaccord Genuity Group lifted their price target on Life360 from $86.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Finally, UBS Group reaffirmed a "buy" rating and set a $85.00 price target (up previously from $71.00) on shares of Life360 in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Life360 presently has an average rating of "Buy" and a consensus price target of $86.43.

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.