Bank of America Corp DE Grows Stock Position in Life360, Inc. (NASDAQ:LIF)

Bank of America Corp DE lifted its position in shares of Life360, Inc. (NASDAQ:LIF) by 190.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,203 shares of the company’s stock after buying an additional 6,035 shares during the period. Bank of America Corp DE’s holdings in Life360 were worth $380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Common Retirement Fund purchased a new position in Life360 during the fourth quarter worth approximately $25,000. Summit Investment Advisors Inc. grew its holdings in Life360 by 82.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock valued at $44,000 after purchasing an additional 484 shares in the last quarter. Corebridge Financial Inc. grew its holdings in Life360 by 64.0% during the 4th quarter. Corebridge Financial Inc. now owns 5,092 shares of the company’s stock worth $210,000 after acquiring an additional 1,987 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Life360 by 79.9% during the 4th quarter. MetLife Investment Management LLC now owns 6,373 shares of the company’s stock worth $263,000 after acquiring an additional 2,830 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Life360 during the 4th quarter worth $303,000. Hedge funds and other institutional investors own 20.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Stifel Nicolaus decreased their price target on shares of Life360 from $52.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Loop Capital boosted their price target on shares of Life360 from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. UBS Group boosted their price target on shares of Life360 from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, Canaccord Genuity Group boosted their target price on shares of Life360 from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $51.00.

Insiders Place Their Bets

In other news, Director John Philip Coghlan sold 3,125 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $37.86, for a total value of $118,312.50. Following the completion of the sale, the director now directly owns 34,286 shares in the company, valued at approximately $1,298,067.96. The trade was a 8.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Russell John Burke sold 3,030 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $64.13, for a total transaction of $194,313.90. Following the completion of the sale, the chief financial officer now owns 195,730 shares of the company’s stock, valued at $12,552,164.90. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,459 shares of company stock valued at $2,132,706 over the last ninety days. Corporate insiders own 8.00% of the company’s stock.

Life360 Stock Performance

Shares of LIF opened at $63.21 on Friday. The company’s 50 day moving average price is $49.85 and its 200 day moving average price is $45.56. Life360, Inc. has a 52 week low of $27.82 and a 52 week high of $65.79. The company has a market capitalization of $4.84 billion and a PE ratio of 702.33.

Life360 (NASDAQ:LIF) last posted its earnings results on Monday, May 12th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.09. The company had revenue of $103.62 million during the quarter, compared to the consensus estimate of $101.48 million. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. On average, equities analysts forecast that Life360, Inc. will post -0.17 earnings per share for the current fiscal 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.