Fifth Third Bancorp Invests $700,000 in Life360, Inc. $LIF

Fifth Third Bancorp acquired a new position in shares of Life360, Inc. (NASDAQ:LIF) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 17,140 shares of the company’s stock, valued at approximately $700,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in Life360 by 0.4% in the second quarter. California State Teachers Retirement System now owns 61,697 shares of the company’s stock valued at $4,026,000 after purchasing an additional 254 shares during the period. Swiss Life Asset Management Ltd boosted its position in shares of Life360 by 8.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 3,617 shares of the company’s stock worth $232,000 after buying an additional 273 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Life360 by 21.1% in the fourth quarter. Russell Investments Group Ltd. now owns 1,673 shares of the company’s stock valued at $107,000 after buying an additional 292 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Life360 in the third quarter valued at $32,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Life360 by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,127 shares of the company’s stock valued at $1,379,000 after buying an additional 343 shares during the period. Institutional investors and hedge funds own 20.00% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles J. Prober sold 7,930 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $46.07, for a total transaction of $365,335.10. Following the completion of the sale, the director owned 109,911 shares in the company, valued at approximately $5,063,599.77. The trade was a 6.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brit Morin sold 4,655 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $55.00, for a total transaction of $256,025.00. Following the completion of the transaction, the director owned 25,975 shares of the company’s stock, valued at approximately $1,428,625. The trade was a 15.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 57,006 shares of company stock valued at $2,614,066. 6.80% of the stock is owned by company insiders.

Life360 Trading Up 10.2%

LIF opened at $53.83 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.23 and a current ratio of 5.37. Life360, Inc. has a one year low of $37.01 and a one year high of $112.54. The company has a market cap of $4.36 billion, a P/E ratio of 31.12 and a beta of 2.34. The business’s 50-day simple moving average is $49.22 and its 200-day simple moving average is $48.56.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LIF. Evercore set a $68.00 target price on Life360 in a research note on Tuesday, May 12th. Wall Street Zen downgraded Life360 from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Citigroup boosted their price target on shares of Life360 from $60.15 to $66.65 and gave the stock a “buy” rating in a research note on Monday, July 6th. Weiss Ratings cut shares of Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley assumed coverage on shares of Life360 in a research note on Tuesday, July 21st. They issued an “overweight” rating and a $66.24 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $64.81.

Life360 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.