Permanent Capital Management LP Invests $889,000 in Life360, Inc. (NASDAQ:LIF)

Permanent Capital Management LP purchased a new position in Life360, Inc. (NASDAQ:LIF - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 21,539 shares of the company's stock, valued at approximately $889,000. Life360 makes up approximately 0.3% of Permanent Capital Management LP's holdings, making the stock its 22nd largest holding.

A number of other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System bought a new stake in Life360 in the 4th quarter worth $842,000. Victory Capital Management Inc. bought a new position in shares of Life360 during the fourth quarter valued at approximately $334,000. Charles Schwab Investment Management Inc. raised its stake in Life360 by 203.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,186 shares of the company's stock worth $1,741,000 after buying an additional 28,279 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Life360 by 1,007.8% during the fourth quarter. Bank of New York Mellon Corp now owns 130,779 shares of the company's stock valued at $5,397,000 after purchasing an additional 118,974 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in Life360 in the fourth quarter worth $4,340,000. Institutional investors own 20.00% of the company's stock.

Insider Buying and Selling at Life360

In other news, CFO Russell John Burke sold 3,104 shares of Life360 stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $41.41, for a total transaction of $128,536.64. Following the sale, the chief financial officer now owns 154,962 shares in the company, valued at $6,416,976.42. This trade represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $42.08, for a total transaction of $118,749.76. Following the completion of the transaction, the general counsel now directly owns 86,752 shares in the company, valued at $3,650,524.16. This trade represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,539 shares of company stock valued at $5,281,703.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LIF shares. Canaccord Genuity Group boosted their price objective on shares of Life360 from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. JMP Securities upped their price target on Life360 from $40.00 to $55.00 and gave the stock a "market outperform" rating in a research note on Thursday, November 14th. Finally, UBS Group upgraded Life360 from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $52.00 to $55.00 in a research note on Friday, January 17th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $47.63.

Life360 Stock Performance

Shares of LIF stock traded down $0.08 during trading hours on Wednesday, reaching $40.63. The company had a trading volume of 536,633 shares, compared to its average volume of 292,618. The business has a fifty day moving average price of $44.03 and a 200-day moving average price of $42.76. Life360, Inc. has a one year low of $26.00 and a one year high of $52.76.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.08). Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. The firm had revenue of $115.53 million during the quarter, compared to analysts' expectations of $114.39 million. As a group, equities research analysts expect 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.