Victory Capital Management Inc. Invests $334,000 in Life360, Inc. (NASDAQ:LIF)

Victory Capital Management Inc. acquired a new position in shares of Life360, Inc. (NASDAQ:LIF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,087 shares of the company's stock, valued at approximately $334,000.

Several other institutional investors have also recently modified their holdings of LIF. Hodges Capital Management Inc. acquired a new stake in shares of Life360 during the 3rd quarter worth about $3,876,000. FMR LLC boosted its position in Life360 by 6.1% during the third quarter. FMR LLC now owns 1,520,135 shares of the company's stock worth $59,817,000 after acquiring an additional 86,917 shares during the last quarter. State Street Corp purchased a new stake in Life360 in the 3rd quarter worth approximately $2,393,000. Cherrydale Wealth Management LLC purchased a new stake in Life360 in the 4th quarter worth approximately $340,000. Finally, JPMorgan Chase & Co. raised its holdings in Life360 by 295.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,054 shares of the company's stock valued at $514,000 after acquiring an additional 9,754 shares during the last quarter. 20.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LIF has been the topic of several analyst reports. Canaccord Genuity Group raised their price objective on Life360 from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. UBS Group upgraded Life360 from a "neutral" rating to a "buy" rating and lifted 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 stock. According to data from MarketBeat, Life360 currently has an average rating of "Buy" and an average price target of $47.63.

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Insider Activity

In other news, Director Charles J. Prober sold 50,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $41.52, for a total value of $2,076,000.00. Following the completion of the sale, the director now owns 102,742 shares in the company, valued at approximately $4,265,847.84. This trade represents a 32.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Russell John Burke sold 3,104 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $42.51, for a total value of $131,951.04. Following the transaction, the chief financial officer now directly owns 184,961 shares in the company, valued at $7,862,692.11. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,039 shares of company stock valued at $6,391,012.

Life360 Stock Performance

NASDAQ:LIF traded down $1.52 on Wednesday, hitting $39.88. 319,016 shares of the stock were exchanged, compared to its average volume of 359,393. The stock has a fifty day moving average of $43.69 and a 200-day moving average of $42.90. Life360, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $52.77.

Life360 (NASDAQ:LIF - Get Free Report) last posted its 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 business had revenue of $115.53 million for the quarter, compared to analyst estimates of $114.39 million. As a group, research analysts forecast that Life360, Inc. will post -0.17 earnings per share for the current year.

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.