Geode Capital Management LLC Acquires 51,129 Shares of Life360, Inc. (NASDAQ:LIF)

Geode Capital Management LLC lifted its stake in shares of Life360, Inc. (NASDAQ:LIF - Free Report) by 39.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,587 shares of the company's stock after acquiring an additional 51,129 shares during the quarter. Geode Capital Management LLC owned 0.24% of Life360 worth $7,494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of LIF. State Street Corp acquired a new stake in shares of Life360 in the 3rd quarter valued at about $2,393,000. Barclays PLC purchased a new position in Life360 during the 3rd quarter worth $320,000. Franklin Resources Inc. acquired a new position in Life360 in the third quarter valued at $4,689,000. Lord Abbett & CO. LLC purchased a new stake in shares of Life360 in the third quarter valued at about $7,995,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Life360 by 295.6% in the third quarter. JPMorgan Chase & Co. now owns 13,054 shares of the company's stock valued at $514,000 after buying an additional 9,754 shares during the last quarter. 20.00% of the stock is currently owned by institutional investors and hedge funds.

Life360 Price Performance

Shares of NASDAQ:LIF traded up $0.19 during trading on Friday, reaching $40.14. 311,767 shares of the company's stock traded hands, compared to its average volume of 379,745. The company has a 50 day moving average of $39.38 and a 200-day moving average of $42.69. 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 posted its earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $115.53 million during 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%. On average, sell-side analysts anticipate that Life360, Inc. will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of Life360 from $52.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday. UBS Group raised Life360 from a "neutral" rating to a "buy" rating and raised their price target for the company from $52.00 to $55.00 in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $47.38.

Insider Buying and Selling

In related news, CFO Russell John Burke sold 3,104 shares of the firm's stock in a transaction that occurred 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 directly owns 208,395 shares in the company, valued at approximately $7,166,704.05. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Susan L. Stick sold 2,822 shares of the business's stock in a transaction 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 transaction, the general counsel now owns 86,752 shares in the company, valued at approximately $3,650,524.16. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,210 shares of company stock worth $6,884,086 in the last three months.

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.