Lord Abbett & CO. LLC Purchases 23,156 Shares of 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 grew its stake in Life360, Inc. (NASDAQ:LIF - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 326,549 shares of the company's stock after purchasing an additional 23,156 shares during the period. Lord Abbett & CO. LLC owned approximately 0.43% of Life360 worth $12,536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LIF. Summit Investment Advisors Inc. grew its stake in shares of Life360 by 82.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company's stock valued at $44,000 after buying an additional 484 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Life360 by 2,938.9% during the 1st quarter. GAMMA Investing LLC now owns 2,188 shares of the company's stock worth $84,000 after purchasing an additional 2,116 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Life360 by 937.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,189 shares of the company's stock valued at $84,000 after acquiring an additional 1,978 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Life360 by 433.3% in the 1st quarter. New York State Common Retirement Fund now owns 3,200 shares of the company's stock valued at $123,000 after purchasing an additional 2,600 shares during the period. Finally, Deutsche Bank AG raised its stake in Life360 by 3,952.9% during the 4th quarter. Deutsche Bank AG now owns 4,134 shares of the company's stock worth $171,000 after buying an additional 4,032 shares during the period. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Life360

In related news, CFO Russell John Burke sold 3,104 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $75.87, for a total transaction of $235,500.48. Following the completion of the transaction, the chief financial officer owned 196,418 shares in the company, valued at $14,902,233.66. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Synge sold 25,000 shares of Life360 stock in a transaction on Monday, August 18th. The shares were sold at an average price of $85.80, for a total value of $2,145,000.00. Following the completion of the transaction, the director owned 194,754 shares of the company's stock, valued at approximately $16,709,893.20. The trade was a 11.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 170,723 shares of company stock valued at $12,074,884 over the last three months. 8.00% of the stock is currently owned by company insiders.

Life360 Stock Performance

NASDAQ:LIF traded up $0.82 during midday trading on Thursday, reaching $85.99. The stock had a trading volume of 181,547 shares, compared to its average volume of 673,846. Life360, Inc. has a 12-month low of $29.62 and a 12-month 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 has a fifty day simple moving average of $71.09 and a two-hundred day simple moving average of $54.60. The stock has a market cap of $6.67 billion, a P/E ratio of 268.57 and a beta of 3.46.

Life360 (NASDAQ:LIF - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. The firm had revenue of $115.38 million during the quarter, compared to the consensus estimate of $109.33 million. Life360 had a net margin of 6.45% and a return on equity of 7.65%. Life360 has set its FY 2025 guidance at EPS. On average, equities analysts expect that Life360, Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Life360 from $55.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Loop Capital upped their price objective on shares of Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. JMP Securities increased their target price on shares of Life360 from $62.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 12th. UBS Group reissued a "buy" rating and set a $85.00 price objective (up previously from $71.00) on shares of Life360 in a research note on Tuesday, August 12th. Finally, Citigroup began coverage on shares of Life360 in a research report on Thursday, July 31st. They issued a "buy" rating and a $90.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Life360 presently has an average rating of "Buy" and a consensus target price of $86.43.

Life360 Company 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.