Victory Capital Management Inc. Sells 76,932 Shares of Life360, Inc. $LIF

Key Points

• Victory Capital Management reduced its stake in Life360 by 31.6%, selling 76,932 shares and now holding 166,762 shares valued at about $17.7 million.
• Insiders sold 40,712 shares worth roughly $2.295 million over the last quarter, including Director Charles J. Prober (7,930 shares at $68.30) and Alex Haro (1,887 shares at $63.96).
• Wall Street has a consensus rating of "Moderate Buy" with a consensus target price of $83.31, but several analysts have trimmed price targets recently (e.g., UBS to $75, Canaccord to $94) and ratings range from Strong Buy to Hold.

Victory Capital Management Inc. lessened its stake in Life360, Inc. (NASDAQ:LIF - Free Report) by 31.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 166,762 shares of the company's stock after selling 76,932 shares during the period. Victory Capital Management Inc. owned 0.22% of Life360 worth $17,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of LIF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Life360 by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company's stock worth $237,000 after purchasing an additional 378 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Life360 by 12.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,748 shares of the company's stock worth $5,327,000 after purchasing an additional 15,420 shares in the last quarter. Strs Ohio purchased a new position in Life360 during the 1st quarter worth $157,000. Bank of New York Mellon Corp grew its stake in Life360 by 25.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 687,269 shares of the company's stock worth $44,844,000 after buying an additional 137,997 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Life360 during the 2nd quarter valued at about $559,000. Institutional investors own 20.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LIF shares. Citigroup reissued a "buy" rating on shares of Life360 in a report on Tuesday, January 27th. Canaccord Genuity Group decreased their price objective on shares of Life360 from $115.00 to $94.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. UBS Group lowered their price objective on shares of Life360 from $110.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Stifel Nicolaus dropped their price objective on shares of Life360 from $92.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday, January 27th. Finally, Wall Street Zen lowered Life360 from a "buy" rating to a "hold" rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Life360 has a consensus rating of "Moderate Buy" and a consensus target price of $83.31.

Insider Activity

In related news, Director Charles J. Prober sold 7,930 shares of the business's stock in a transaction on Monday, December 15th. The shares were sold at an average price of $68.30, for a total transaction of $541,619.00. Following the completion of the transaction, the director directly owned 105,456 shares in the company, valued at $7,202,644.80. The trade was a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alex Haro sold 1,887 shares of the company's stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $63.96, for a total transaction of $120,692.52. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,712 shares of company stock valued at $2,295,032 over the last quarter.

Life360 Stock Performance

LIF opened at $46.38 on Wednesday. The company has a current ratio of 6.26, a quick ratio of 6.16 and a debt-to-equity ratio of 0.57. Life360, Inc. has a 12-month low of $29.62 and a 12-month high of $112.54. The firm has a 50 day moving average of $55.60 and a two-hundred day moving average of $76.07. The firm has a market capitalization of $3.72 billion, a PE ratio of 26.50 and a beta of 3.84.

Life360 Profile

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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