Wells Fargo & Company MN Trims Holdings in Life360, Inc. (NASDAQ:LIF)

Wells Fargo & Company MN trimmed its holdings in shares of Life360, Inc. (NASDAQ:LIF - Free Report) by 49.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,748 shares of the company's stock after selling 9,495 shares during the quarter. Wells Fargo & Company MN's holdings in Life360 were worth $402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Life360 by 402.9% during the fourth quarter. Franklin Resources Inc. now owns 539,592 shares of the company's stock valued at $22,269,000 after acquiring an additional 432,292 shares during the last quarter. Swiss National Bank bought a new position in Life360 during the fourth quarter worth $5,717,000. Geode Capital Management LLC acquired a new stake in Life360 in the third quarter worth $5,134,000. Bank of New York Mellon Corp increased its stake in Life360 by 1,007.8% in the fourth quarter. Bank of New York Mellon Corp now owns 130,779 shares of the company's stock valued at $5,397,000 after purchasing an additional 118,974 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Life360 during the 4th quarter worth about $4,340,000. 20.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LIF shares. UBS Group raised Life360 from a "neutral" rating to a "buy" rating and upped their price target for the stock from $52.00 to $55.00 in a research note on Friday, January 17th. Stifel Nicolaus decreased their price target 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. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $47.38.

Life360 Stock Up 1.3 %

NASDAQ:LIF traded up $0.57 during mid-day trading on Tuesday, reaching $44.13. 349,146 shares of the company's stock traded hands, compared to its average volume of 379,842. The company has a 50 day moving average price of $39.23 and a 200-day moving average price of $42.65. Life360, Inc. has a 12-month low of $26.00 and a 12-month high of $52.77.

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

Insiders Place Their Bets

In related news, Director John Philip Coghlan sold 3,125 shares of Life360 stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $43.30, for a total value of $135,312.50. Following the completion of the sale, the director now owns 32,903 shares of the company's stock, valued at $1,424,699.90. The trade was a 8.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Lauren Antonoff sold 4,546 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $38.78, for a total value of $176,293.88. Following the completion of the transaction, the chief operating officer now directly owns 340,224 shares in the company, valued at approximately $13,193,886.72. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 176,485 shares of company stock valued at $7,336,900.

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.