Franklin Resources Inc. Has $22.27 Million Stake in Life360, Inc. (NASDAQ:LIF)

Franklin Resources Inc. raised its position in Life360, Inc. (NASDAQ:LIF - Free Report) by 402.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,592 shares of the company's stock after purchasing an additional 432,292 shares during the quarter. Franklin Resources Inc. owned approximately 0.72% of Life360 worth $22,269,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Life360 in the 3rd quarter valued at $7,995,000. Swiss National Bank acquired a new stake in shares of Life360 in the fourth quarter worth about $5,717,000. Bank of New York Mellon Corp increased its holdings in shares of Life360 by 1,007.8% during the 4th quarter. Bank of New York Mellon Corp now owns 130,779 shares of the company's stock valued at $5,397,000 after acquiring an additional 118,974 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Life360 during the 3rd quarter valued at about $5,134,000. Finally, Jane Street Group LLC raised its stake in shares of Life360 by 35.2% in the 3rd quarter. Jane Street Group LLC now owns 123,507 shares of the company's stock valued at $4,860,000 after acquiring an additional 32,182 shares in the last quarter. 20.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Life360

In related news, General Counsel Susan L. Stick sold 2,822 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $42.08, for a total value of $118,749.76. Following the sale, the general counsel now owns 86,752 shares of the company's stock, valued at $3,650,524.16. The trade was a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.94, for a total transaction of $139,493.76. Following the completion of the transaction, the chief financial officer now directly owns 145,650 shares of the company's stock, valued at $6,545,511. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,814 shares of company stock valued at $7,012,426.

Remove Ads

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded Life360 from a "neutral" rating to a "buy" rating and increased their price target for the company from $52.00 to $55.00 in a report on Friday, January 17th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Life360 currently has an average rating of "Buy" and a consensus price target of $47.63.

Life360 Price Performance

NASDAQ:LIF traded up $0.99 during trading hours on Friday, hitting $34.94. 471,747 shares of the company traded hands, compared to its average volume of 379,659. The firm has a 50-day moving average of $40.95 and a 200 day moving average of $42.87. Life360, Inc. has a twelve month low of $26.00 and a twelve month high of $52.77.

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

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.