Lord Abbett & CO. LLC Takes Position in Life360, Inc. (NASDAQ:LIF)

Lord Abbett & CO. LLC acquired a new position in Life360, Inc. (NASDAQ:LIF - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 203,176 shares of the company's stock, valued at approximately $7,995,000. Lord Abbett & CO. LLC owned 0.27% of Life360 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wealthstream Advisors Inc. acquired a new position in shares of Life360 in the 3rd quarter valued at about $35,538,000. Regal Partners Ltd acquired a new stake in shares of Life360 during the 2nd quarter worth approximately $23,635,000. Millennium Management LLC purchased a new position in shares of Life360 during the 2nd quarter valued at approximately $11,861,000. Ghisallo Capital Management LLC purchased a new stake in Life360 during the second quarter worth $8,098,000. Finally, Emerald Advisers LLC acquired a new stake in Life360 during the second quarter valued at $6,777,000. 20.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LIF has been the topic of several recent analyst reports. JMP Securities increased their target price on shares of Life360 from $40.00 to $55.00 and gave the stock a "market outperform" rating in a research note on Thursday, November 14th. UBS Group raised their price objective on Life360 from $35.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Loop Capital upped their target price on Life360 from $36.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Stifel Nicolaus lifted their price target on shares of Life360 from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Finally, Canaccord Genuity Group upped their price objective on shares of Life360 from $54.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $47.00.

Insider Buying and Selling

In related news, CEO Chris Hulls sold 556,569 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $41.02, for a total value of $22,830,460.38. Following the completion of the transaction, the chief executive officer now directly owns 952,696 shares in the company, valued at approximately $39,079,589.92. This represents a 36.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Russell John Burke sold 3,104 shares of Life360 stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $43.97, for a total value of $136,482.88. Following the completion of the sale, the chief financial officer now owns 158,066 shares in the company, valued at $6,950,162.02. This represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 629,673 shares of company stock worth $25,855,843.

Life360 Price Performance

LIF traded down $0.05 during trading on Tuesday, reaching $43.44. The company's stock had a trading volume of 459,595 shares, compared to its average volume of 316,749. The stock has a fifty day simple moving average of $44.97. Life360, Inc. has a 1 year low of $26.00 and a 1 year high of $52.76.

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.