Federated Hermes Inc. Purchases New Position in Life360, Inc. (NASDAQ:LIF)

Federated Hermes Inc. bought a new stake in shares of Life360, Inc. (NASDAQ:LIF - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 27,769 shares of the company's stock, valued at approximately $1,146,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LIF. New York State Common Retirement Fund purchased a new position in shares of Life360 in the fourth quarter worth about $25,000. BNP Paribas Financial Markets acquired a new stake in Life360 in the 3rd quarter valued at $98,000. KBC Group NV purchased a new stake in shares of Life360 during the fourth quarter worth about $147,000. Corebridge Financial Inc. raised its holdings in shares of Life360 by 64.0% during the fourth quarter. Corebridge Financial Inc. now owns 5,092 shares of the company's stock valued at $210,000 after acquiring an additional 1,987 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Life360 in the 3rd quarter valued at $280,000. Hedge funds and other institutional investors own 20.00% of the company's stock.

Wall Street Analyst Weigh In

Separately, UBS Group raised shares of Life360 from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $52.00 to $55.00 in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $47.63.

Life360 Stock Performance

NASDAQ:LIF traded up $1.09 during mid-day trading on Friday, hitting $37.39. 399,955 shares of the company's stock traded hands, compared to its average volume of 380,171. The firm's 50 day simple moving average is $40.15 and its 200 day simple moving average is $42.75. Life360, Inc. has a 1 year low of $26.00 and a 1 year high of $52.77.

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

Insider Activity

In other Life360 news, CFO Russell John Burke sold 3,104 shares of the business's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $34.39, for a total transaction of $106,746.56. Following the completion of the sale, the chief financial officer now owns 208,395 shares in the company, valued at $7,166,704.05. The trade was a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Susan L. Stick sold 2,822 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $42.08, for a total value of $118,749.76. Following the transaction, the general counsel now owns 86,752 shares of the company's stock, valued at $3,650,524.16. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,314 shares of company stock worth $7,029,291.

Life360 Company 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.