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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in LIF. Charles Schwab Investment Management Inc. acquired a new stake in shares of Life360 during the third quarter worth $547,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Life360 during the third quarter worth $675,000. FMR LLC raised its holdings in shares of 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 period. BNP Paribas Financial Markets acquired a new stake in shares of Life360 during the third quarter worth $98,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Life360 during the third quarter worth $139,000. 20.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LIF has been the topic of a number of research analyst reports. UBS Group upgraded shares of Life360 from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $55.00 in a report on Friday, January 17th. Canaccord Genuity Group lifted their price target on shares of Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $47.63.

Life360 Stock Performance

Life360 stock opened at $38.12 on Friday. The company’s 50-day moving average is $43.67 and its 200-day moving average is $42.82. Life360, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $52.77.

Life360 (NASDAQ:LIF) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $115.53 million for the quarter, compared to analyst estimates of $114.39 million. Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. As a group, research analysts predict that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at Life360

In related news, General Counsel Susan L. Stick sold 2,822 shares of Life360 stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $42.08, for a total transaction of $118,749.76. Following the completion of the sale, the general counsel now owns 86,752 shares of the company’s stock, valued at approximately $3,650,524.16. The trade was a 3.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Russell John Burke sold 3,104 shares of Life360 stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $42.74, for a total transaction of $132,664.96. Following the sale, the chief financial officer now directly owns 151,858 shares of the company’s stock, valued at $6,490,410.92. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,143 shares of company stock worth $6,519,549 in the last ninety days.

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.