Root Financial Partners LLC Buys New Holdings in Life360, Inc. $LIF

Root Financial Partners LLC purchased a new stake in Life360, Inc. (NASDAQ:LIF) in the third quarter, according to its most recent filing with the SEC. The fund purchased 38,013 shares of the company’s stock, valued at approximately $1,531,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new position in Life360 during the second quarter worth $1,444,000. California State Teachers Retirement System boosted its holdings in Life360 by 23.5% in the first quarter. California State Teachers Retirement System now owns 86,635 shares of the company’s stock worth $3,536,000 after purchasing an additional 16,461 shares during the period. Bank of New York Mellon Corp acquired a new position in Life360 in the second quarter worth $15,547,000. Greenspring Advisors LLC acquired a new position in Life360 in the second quarter worth $9,592,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Life360 during the second quarter valued at $2,648,000. 20.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LIF shares. Citigroup lowered their target price on shares of Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a research note on Thursday, August 13th. Wall Street Zen upgraded shares of Life360 from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. DA Davidson restated a “neutral” rating and issued a $40.00 price target on shares of Life360 in a research report on Tuesday, September 29th. Bank of America lifted their price target on shares of Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Finally, Morgan Stanley set a $65.20 price objective on shares of Life360 in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Life360 Stock Up 4.7%

NASDAQ:LIF opened at $46.46 on Friday. The firm has a market capitalization of $3.79 billion, a PE ratio of 27.17 and a beta of 2.27. The stock has a 50 day moving average of $42.92 and a 200-day moving average of $46.40. Life360, Inc. has a 52 week low of $37.01 and a 52 week high of $100.18. The company has a current ratio of 5.60, a quick ratio of 5.46 and a debt-to-equity ratio of 0.51.

Life360 (NASDAQ:LIF) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The company had revenue of $158.96 million for the quarter, compared to analyst estimates of $156.68 million. Life360 had a return on equity of 5.66% and a net margin of 25.73%. Analysts predict that Life360, Inc. will post 0.53 EPS for the current year.

Insider Buying and Selling at Life360

In other Life360 news, Director Chris Hulls sold 250,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $46.84, for a total value of $11,710,000.00. Following the sale, the director directly owned 382,056 shares of the company’s stock, valued at $17,895,503.04. This trade represents a 39.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Prober sold 7,930 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $48.59, for a total value of $385,318.70. Following the completion of the sale, the director directly owned 109,930 shares in the company, valued at $5,341,498.70. This represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 456,790 shares of company stock worth $21,269,295. 6.80% of the stock is owned by company insiders.

Life360 Profile

Life360, Inc is a technology company that develops connected safety and security products for families, individuals and pets. Its primary offering is the Life360 mobile application, which provides location sharing, family communication, driving safety tools, emergency assistance and other features intended to help users coordinate and stay connected.

The company also offers services such as crash detection, roadside assistance, SOS support and digital safety features. Through its ownership of Tile, Life360 provides Bluetooth-enabled finding devices and related tracking services for personal belongings.