Squarepoint Ops LLC Acquires 27,376 Shares of Life360, Inc. (NASDAQ:LIF)

Squarepoint Ops LLC increased its stake in Life360, Inc. (NASDAQ:LIF - Free Report) by 303.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,388 shares of the company's stock after purchasing an additional 27,376 shares during the quarter. Squarepoint Ops LLC's holdings in Life360 were worth $1,502,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. New York State Common Retirement Fund purchased a new stake in Life360 during the fourth quarter valued at about $25,000. Summit Investment Advisors Inc. raised its position 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 purchasing an additional 484 shares during the period. KBC Group NV purchased a new stake in shares of Life360 during the 4th quarter valued at approximately $147,000. Deutsche Bank AG lifted its stake in shares of Life360 by 3,952.9% during the 4th quarter. Deutsche Bank AG now owns 4,134 shares of the company's stock valued at $171,000 after buying an additional 4,032 shares in the last quarter. Finally, Corebridge Financial Inc. boosted its holdings in Life360 by 64.0% in the 4th quarter. Corebridge Financial Inc. now owns 5,092 shares of the company's stock worth $210,000 after buying an additional 1,987 shares during the period. Institutional investors own 20.00% of the company's stock.

Life360 Trading Up 1.6%

Shares of Life360 stock traded up $1.00 on Wednesday, hitting $64.01. 1,076,661 shares of the company traded hands, compared to its average volume of 447,266. Life360, Inc. has a 12-month low of $26.00 and a 12-month high of $65.49. The firm's 50-day simple moving average is $46.55 and its 200 day simple moving average is $44.66. The company has a market cap of $4.90 billion and a P/E ratio of 711.22.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly 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 negative return on equity of 4.03% and a negative net margin of 4.72%. The business had revenue of $103.62 million for the quarter, compared to the consensus estimate of $101.48 million. Analysts predict that Life360, Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

LIF has been the topic of a number of analyst reports. Canaccord Genuity Group boosted their target price on shares of Life360 from $58.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Stifel Nicolaus reduced their price target on Life360 from $52.00 to $48.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Loop Capital increased their price objective on Life360 from $52.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, UBS Group raised their target price on Life360 from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $51.00.

Insider Activity at Life360

In other Life360 news, Director Mark Goines sold 30,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the completion of the sale, the director now directly owns 36,272 shares in the company, valued at $1,523,424. This represents a 45.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $42.51, for a total value of $131,951.04. Following the transaction, the chief financial officer now directly owns 184,961 shares in the company, valued at $7,862,692.11. This trade represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,961 shares of company stock valued at $5,106,488. Corporate 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.