Bank of New York Mellon Corp Buys 118,974 Shares of Life360, Inc. (NASDAQ:LIF)

Bank of New York Mellon Corp grew its position in Life360, Inc. (NASDAQ:LIF - Free Report) by 1,007.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,779 shares of the company's stock after purchasing an additional 118,974 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.18% of Life360 worth $5,397,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Lord Abbett & CO. LLC acquired a new position in shares of Life360 in the 3rd quarter valued at about $7,995,000. Geode Capital Management LLC acquired a new position in Life360 in the third quarter valued at approximately $5,134,000. Franklin Resources Inc. bought a new position in shares of Life360 during the 3rd quarter worth approximately $4,689,000. Ieq Capital LLC acquired a new stake in shares of Life360 during the 4th quarter worth approximately $4,340,000. Finally, Hodges Capital Management Inc. acquired a new stake in shares of Life360 during the 3rd quarter worth approximately $3,876,000. 20.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LIF has been the subject of a number of research reports. UBS Group upgraded shares of Life360 from a "neutral" rating to a "buy" rating and raised their price target for the stock from $52.00 to $55.00 in a report on Friday, January 17th. Canaccord Genuity Group boosted their target price on Life360 from $54.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $47.63.

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Life360 Stock Performance

Life360 stock traded down $3.38 during mid-day trading on Friday, reaching $38.11. 1,003,354 shares of the company's stock were exchanged, compared to its average volume of 345,705. The business's fifty day simple moving average is $43.76 and its 200 day simple moving average is $42.79. Life360, Inc. has a one year low of $26.00 and a one year high of $52.77.

Life360 (NASDAQ:LIF - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates 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%. As a group, analysts anticipate that Life360, Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling at Life360

In other news, CFO Russell John Burke sold 3,104 shares of the company's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.78, for a total transaction of $145,205.12. Following the transaction, the chief financial officer now owns 148,754 shares of the company's stock, valued at $6,958,712.12. This represents a 2.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Susan L. Stick sold 2,822 shares of Life360 stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $42.08, for a total value of $118,749.76. Following the completion of the sale, the general counsel now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 154,143 shares of company stock worth $6,519,549 over 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.