Principal Financial Group Inc. Purchases 379,941 Shares of Life360, Inc. $LIF

Key Points

• Principal Financial Group increased its Life360 stake by 455% in Q1, buying 379,941 additional shares and bringing its total holding to 463,442 shares valued at about $18.9 million.
• Other institutional investors also boosted or initiated positions, and institutions now own about 20% of Life360, signaling continued interest from large investors.
• Analyst sentiment remains mixed but generally positive, with a consensus rating of Moderate Buy and an average price target of $64.81, while some analysts recently lowered targets or issued a sell rating.

Principal Financial Group Inc. lifted its position in Life360, Inc. (NASDAQ:LIF - Free Report) by 455.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 463,442 shares of the company's stock after buying an additional 379,941 shares during the quarter. Principal Financial Group Inc. owned about 0.57% of Life360 worth $18,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Norges Bank bought a new position in Life360 in the 4th quarter worth $47,097,000. Franklin Resources Inc. boosted its holdings in Life360 by 86.3% during the third quarter. Franklin Resources Inc. now owns 760,122 shares of the company's stock valued at $80,801,000 after acquiring an additional 352,110 shares during the period. Greenspring Advisors LLC acquired a new stake in shares of Life360 in the fourth quarter valued at about $21,720,000. Invesco Ltd. grew its position in shares of Life360 by 171.3% in the third quarter. Invesco Ltd. now owns 444,923 shares of the company's stock valued at $47,295,000 after purchasing an additional 280,953 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Life360 by 19,023.3% in the second quarter. BNP Paribas Financial Markets now owns 232,348 shares of the company's stock worth $15,161,000 after purchasing an additional 231,133 shares during the period. 20.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Macquarie Infrastructure assumed coverage on Life360 in a research report on Tuesday, April 28th. They set an "outperform" rating and a $32.20 price objective for the company. Evercore set a $68.00 price target on Life360 in a research report on Tuesday, May 12th. UBS Group cut their price target on Life360 from $75.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Weiss Ratings cut Life360 from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, May 12th. Finally, DA Davidson increased their price objective on Life360 from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Life360 currently has a consensus rating of "Moderate Buy" and an average target price of $64.81.

Insider Transactions at Life360

In related news, Director John Philip Coghlan sold 4,000 shares of Life360 stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $56.07, for a total transaction of $224,280.00. Following the sale, the director directly owned 24,431 shares of the company's stock, valued at $1,369,846.17. This trade represents a 14.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles J. Prober sold 7,930 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $46.07, for a total value of $365,335.10. Following the completion of the transaction, the director directly owned 109,911 shares of the company's stock, valued at approximately $5,063,599.77. This trade represents a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 57,006 shares of company stock valued at $2,614,066 in the last ninety days. 6.80% of the stock is owned by corporate insiders.

Life360 Stock Performance

NASDAQ:LIF opened at $52.03 on Thursday. The firm's 50-day moving average is $48.53 and its 200-day moving average is $48.84. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 30.08 and a beta of 2.34. 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 52-week low of $37.01 and a 52-week high of $112.54.

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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