KLP Kapitalforvaltning AS Makes New Investment in Life360, Inc. (NASDAQ:LIF)

KLP Kapitalforvaltning AS bought a new stake in Life360, Inc. (NASDAQ:LIF) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,900 shares of the company’s stock, valued at approximately $615,000.

Other hedge funds have also made changes to their positions in the company. New York State Common Retirement Fund purchased a new position in shares of Life360 in the 4th quarter valued at about $25,000. BNP Paribas Financial Markets acquired a new position in shares of Life360 during the 3rd quarter worth $98,000. MetLife Investment Management LLC purchased a new position in Life360 during the 3rd quarter valued at about $139,000. KBC Group NV acquired a new position in Life360 during the fourth quarter worth about $147,000. Finally, First Dallas Securities Inc. acquired a new position in shares of Life360 during the 3rd quarter worth approximately $273,000. Institutional investors and hedge funds own 20.00% of the company’s stock.

Life360 Price Performance

LIF stock opened at $39.48 on Thursday. Life360, Inc. has a twelve month low of $26.00 and a twelve month high of $52.77. The firm has a 50 day simple moving average of $43.19 and a 200-day simple moving average of $43.06.

Life360 (NASDAQ:LIF) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) 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 net margin of 4.72% and a negative return on equity of 4.03%. On average, equities analysts anticipate that Life360, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Transactions at Life360

In related news, CFO Russell John Burke sold 3,104 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.78, for a total transaction of $145,205.12. Following the transaction, the chief financial officer now directly owns 148,754 shares of the company’s stock, valued at approximately $6,958,712.12. The trade was a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles J. Prober sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $41.52, for a total transaction of $2,076,000.00. Following the completion of the sale, the director now directly owns 102,742 shares of the company’s stock, valued at $4,265,847.84. This trade represents a 32.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,689 shares of company stock worth $6,920,032.

Analyst Ratings Changes

Separately, UBS Group raised shares of Life360 from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $55.00 in a research note on Friday, January 17th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Life360 has an average rating of “Buy” and an average price target of $47.63.

Life360 Company 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.