Wealthstream Advisors Inc. Sells 6,624 Shares of Life360, Inc. (NASDAQ:LIF)

Key Points

• Wealthstream Advisors Inc. reduced its stake in Life360, Inc. by 8.7% to a total of 69,411 shares, valued at approximately $2.67 million.
• Several institutional investors significantly increased their holdings in Life360, including Victory Capital Management (up 2,245.1%) and Bank of New York Mellon (up 320.0%).
• Life360's stock has a current consensus rating of "Moderate Buy" and a target price averaging $59.50, despite some analysts lowering their price targets recently.

Wealthstream Advisors Inc. decreased its stake in Life360, Inc. (NASDAQ:LIF - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,411 shares of the company's stock after selling 6,624 shares during the period. Life360 comprises about 0.5% of Wealthstream Advisors Inc.'s holdings, making the stock its 21st largest holding. Wealthstream Advisors Inc. owned about 0.09% of Life360 worth $2,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Summit Investment Advisors Inc. raised its stake in shares of Life360 by 82.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company's stock valued at $44,000 after acquiring an additional 484 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Life360 by 2,938.9% during the first quarter. GAMMA Investing LLC now owns 2,188 shares of the company's stock valued at $84,000 after acquiring an additional 2,116 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Life360 by 433.3% during the first quarter. New York State Common Retirement Fund now owns 3,200 shares of the company's stock valued at $123,000 after acquiring an additional 2,600 shares during the last quarter. Deutsche Bank AG raised its stake in Life360 by 3,952.9% during the fourth 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 last quarter. Finally, Corebridge Financial Inc. raised its stake in 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 buying an additional 1,987 shares during the last quarter. Institutional investors own 20.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LIF shares. Stifel Nicolaus lowered their target price on shares of Life360 from $52.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Loop Capital lifted their target price on shares of Life360 from $52.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. JMP Securities lifted their target price on shares of Life360 from $55.00 to $62.00 and gave the stock a "market outperform" rating in a research note on Monday, June 16th. Wall Street Zen downgraded shares of Life360 from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Citigroup reissued an "outperform" rating on shares of Life360 in a research note on Monday, June 16th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Life360 currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.33.

Life360 Stock Down 0.8%

NASDAQ:LIF traded down $0.64 during trading hours on Monday, reaching $76.17. The company had a trading volume of 548,613 shares, compared to its average volume of 739,097. The firm has a market cap of $5.83 billion and a price-to-earnings ratio of 846.33. The business's 50-day simple moving average is $65.23 and its two-hundred day simple moving average is $50.53. Life360, Inc. has a twelve month low of $28.94 and a twelve month high of $77.38.

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, topping the consensus estimate of ($0.04) by $0.09. Life360 had a net margin of 2.42% and a return on equity of 4.05%. The business had revenue of $103.62 million for the quarter, compared to analysts' expectations of $101.48 million. As a group, equities analysts predict that Life360, Inc. will post -0.17 earnings per share for the current year.

Insider Activity

In related news, Director Brit Morin sold 47,584 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $61.14, for a total transaction of $2,909,285.76. Following the transaction, the director directly owned 26,442 shares in the company, valued at approximately $1,616,663.88. The trade was a 64.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Lauren Antonoff sold 4,546 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $62.50, for a total transaction of $284,125.00. Following the transaction, the chief operating officer owned 312,324 shares in the company, valued at approximately $19,520,250. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,793 shares of company stock valued at $7,048,111 in the last three months.

Life360 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.