Permanent Capital Management LP Takes Position in Life360, Inc. $LIF

Permanent Capital Management LP acquired a new position in shares of Life360, Inc. (NASDAQ:LIF) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,539 shares of the company’s stock, valued at approximately $2,290,000. Life360 makes up about 0.4% of Permanent Capital Management LP’s holdings, making the stock its 28th largest position.

A number of other hedge funds also recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of Life360 by 71.4% during the 3rd quarter. CWM LLC now owns 384 shares of the company’s stock worth $41,000 after acquiring an additional 160 shares in the last quarter. Keystone Financial Group Inc. acquired a new position in Life360 during the second quarter worth $62,000. State of Wyoming acquired a new position in Life360 during the second quarter worth $96,000. Ameritas Investment Partners Inc. boosted its position in Life360 by 53.2% during the second quarter. Ameritas Investment Partners Inc. now owns 1,642 shares of the company’s stock worth $107,000 after purchasing an additional 570 shares in the last quarter. Finally, Praxis Investment Management Inc. acquired a new stake in Life360 in the third quarter valued at $208,000. 20.00% of the stock is owned by hedge funds and other institutional investors.

Life360 Stock Performance

NASDAQ LIF opened at $66.37 on Monday. The business’s 50-day moving average price is $78.50 and its 200 day moving average price is $81.82. The company has a current ratio of 6.80, a quick ratio of 6.62 and a debt-to-equity ratio of 0.79. Life360, Inc. has a twelve month low of $29.62 and a twelve month high of $112.54. The company has a market capitalization of $5.20 billion, a PE ratio of 195.21 and a beta of 3.62.

Life360 (NASDAQ:LIF) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.03 by $0.08. The company had revenue of $124.50 million during the quarter, compared to analysts’ expectations of $119.26 million. Life360 had a return on equity of 7.95% and a net margin of 6.46%. On average, research analysts predict that Life360, Inc. will post -0.17 earnings per share for the current year.

Insider Activity at Life360

In related news, Director Charles J. Prober sold 7,930 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $76.93, for a total value of $610,054.90. Following the transaction, the director directly owned 105,456 shares of the company’s stock, valued at approximately $8,112,730.08. This trade represents a 6.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alex Haro sold 100,000 shares of Life360 stock in a transaction on Monday, December 1st. The shares were sold at an average price of $76.45, for a total value of $7,645,000.00. Following the completion of the transaction, the director owned 861,315 shares in the company, valued at $65,847,531.75. The trade was a 10.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 613,022 shares of company stock valued at $47,501,677 over the last 90 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LIF shares. Zacks Research cut shares of Life360 from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Stifel Nicolaus set a $92.00 price objective on Life360 in a research report on Tuesday, December 9th. DA Davidson initiated coverage on Life360 in a research note on Thursday, December 11th. They issued a “buy” rating and a $94.00 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $115.00 price target on shares of Life360 in a research report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Life360 in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.63.

Life360 Company Profile

Life360, Inc (NASDAQ: LIF) operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company’s services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.