Lord Abbett & CO. LLC Boosts Stock Holdings in Life360, Inc. (NASDAQ:LIF)

Lord Abbett & CO. LLC lifted its position in Life360, Inc. (NASDAQ:LIF - Free Report) by 49.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 303,393 shares of the company's stock after purchasing an additional 100,217 shares during the quarter. Lord Abbett & CO. LLC owned about 0.41% of Life360 worth $12,521,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. WealthPlan Investment Management LLC grew its position in shares of Life360 by 2.5% during the 4th quarter. WealthPlan Investment Management LLC now owns 9,992 shares of the company's stock valued at $412,000 after acquiring an additional 247 shares during the period. Summit Investment Advisors Inc. increased 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 buying an additional 484 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Life360 during the 4th quarter worth approximately $25,000. Corebridge Financial Inc. lifted its position in shares of Life360 by 64.0% during the 4th quarter. Corebridge Financial Inc. now owns 5,092 shares of the company's stock valued at $210,000 after buying an additional 1,987 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in Life360 by 37.4% in the 4th quarter. XTX Topco Ltd now owns 9,760 shares of the company's stock valued at $403,000 after acquiring an additional 2,656 shares during the period. Institutional investors and hedge funds own 20.00% of the company's stock.

Life360 Stock Performance

Life360 stock traded up $1.26 during trading on Wednesday, reaching $42.90. 566,062 shares of the company were exchanged, compared to its average volume of 380,454. The stock's 50 day simple moving average is $39.12 and its two-hundred day simple moving average is $42.67. Life360, Inc. has a 52-week low of $26.00 and a 52-week high of $52.77.

Life360 (NASDAQ:LIF - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.08). The firm had revenue of $115.53 million during the quarter, compared to analysts' expectations of $114.39 million. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. On average, research analysts predict that Life360, Inc. will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Stifel Nicolaus lowered their price objective on Life360 from $52.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. UBS Group raised Life360 from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $52.00 to $55.00 in a research note on Friday, January 17th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $47.38.

Insider Activity at Life360

In related news, General Counsel Susan L. Stick sold 2,822 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $42.08, for a total transaction of $118,749.76. Following the completion of the transaction, the general counsel now owns 86,752 shares of the company's stock, valued at approximately $3,650,524.16. This trade represents a 3.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $44.94, for a total value of $139,493.76. Following the transaction, the chief financial officer now owns 145,650 shares in the company, valued at $6,545,511. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,360 shares of company stock worth $7,201,588.

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.