The Manufacturers Life Insurance Company Buys New Stake in Life360, Inc. (NASDAQ:LIF)

The Manufacturers Life Insurance Company purchased a new position in Life360, Inc. (NASDAQ:LIF - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,148 shares of the company's stock, valued at approximately $675,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in Life360 during the 2nd quarter valued at $43,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Life360 in the second quarter valued at about $192,000. XY Capital Ltd purchased a new stake in Life360 in the second quarter worth about $205,000. SG Americas Securities LLC bought a new position in Life360 during the 3rd quarter worth about $246,000. Finally, WealthPlan Investment Management LLC increased its position in Life360 by 8.2% during the 3rd quarter. WealthPlan Investment Management LLC now owns 9,745 shares of the company's stock valued at $383,000 after purchasing an additional 738 shares during the period. 20.00% of the stock is owned by institutional investors.

Insider Transactions at Life360

In other news, Director Mark Goines sold 50,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.70, for a total value of $2,035,000.00. Following the transaction, the director now directly owns 76,272 shares of the company's stock, valued at approximately $3,104,270.40. This represents a 39.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Hulls sold 556,569 shares of the firm's stock in a transaction dated 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 owns 952,696 shares of the company's stock, valued at approximately $39,079,589.92. The trade was a 36.88 % decrease in their ownership of the stock. 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

NASDAQ:LIF traded up $0.31 during mid-day trading on Friday, hitting $43.81. 252,048 shares of the company's stock traded hands, compared to its average volume of 315,973. The stock has a fifty day moving average of $44.88. Life360, Inc. has a twelve month low of $26.00 and a twelve month high of $52.76.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LIF shares. Stifel Nicolaus increased their price objective 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. Loop Capital increased their target price on Life360 from $36.00 to $43.00 and gave the company a "buy" rating in a research report on Wednesday, August 21st. UBS Group lifted their price target on Life360 from $35.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. JMP Securities upped their price objective 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, Canaccord Genuity Group lifted their target price on Life360 from $54.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. One research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $47.00.

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.