Voloridge Investment Management LLC Acquires New Position in Life360, Inc. (NASDAQ:LIF)

Voloridge Investment Management LLC purchased a new stake in shares of Life360, Inc. (NASDAQ:LIF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 46,087 shares of the company's stock, valued at approximately $1,902,000. Voloridge Investment Management LLC owned 0.06% of Life360 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund acquired a new stake in shares of Life360 in the fourth quarter worth $25,000. Summit Investment Advisors Inc. increased its holdings in Life360 by 82.3% in the 4th 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 in the last quarter. KBC Group NV acquired a new stake in Life360 in the 4th quarter valued at $147,000. Deutsche Bank AG raised its position in Life360 by 3,952.9% in the fourth quarter. Deutsche Bank AG now owns 4,134 shares of the company's stock valued at $171,000 after purchasing an additional 4,032 shares during the period. Finally, Corebridge Financial Inc. lifted its stake in shares of Life360 by 64.0% during the fourth quarter. Corebridge Financial Inc. now owns 5,092 shares of the company's stock worth $210,000 after purchasing an additional 1,987 shares in the last quarter. 20.00% of the stock is currently owned by institutional investors and hedge funds.

Life360 Trading Down 3.8%

LIF stock traded down $2.44 during midday trading on Monday, hitting $61.11. 2,216,554 shares of the company's stock were exchanged, compared to its average volume of 437,368. The firm has a 50 day moving average price of $45.56 and a 200-day moving average price of $44.39. Life360, Inc. has a 12-month low of $26.00 and a 12-month high of $65.19. The stock has a market capitalization of $4.68 billion and a price-to-earnings ratio of 679.00.

Life360 (NASDAQ:LIF - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.09. The business had revenue of $103.62 million during the quarter, compared to analyst estimates of $101.48 million. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. On average, sell-side analysts forecast that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Lauren Antonoff sold 13,106 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $42.08, for a total transaction of $551,500.48. Following the sale, the chief operating officer now directly owns 280,663 shares of the company's stock, valued at approximately $11,810,299.04. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $42.51, for a total value of $131,951.04. Following the transaction, the chief financial officer now 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. Insiders sold a total of 167,961 shares of company stock valued at $7,182,488 in the last ninety days. Corporate insiders own 8.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LIF. Stifel Nicolaus decreased their target price on Life360 from $52.00 to $48.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Canaccord Genuity Group upped their price target on Life360 from $58.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Loop Capital increased their price objective on shares of Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, UBS Group boosted their target price on shares of Life360 from $55.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $51.00.

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.