Maverick Capital Ltd. Buys New Shares in Life360, Inc. $LIF

Maverick Capital Ltd. bought a new position in shares of Life360, Inc. (NASDAQ:LIF) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 17,147 shares of the company’s stock, valued at approximately $700,000.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Life360 by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 1,153,096 shares of the company’s stock valued at $74,372,000 after purchasing an additional 85,857 shares in the last quarter. State Street Corp grew its position in shares of Life360 by 17.3% during the fourth quarter. State Street Corp now owns 905,153 shares of the company’s stock worth $58,057,000 after buying an additional 133,722 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Life360 by 86.3% during the third quarter. Franklin Resources Inc. now owns 760,122 shares of the company’s stock worth $80,801,000 after buying an additional 352,110 shares during the period. Norges Bank purchased a new stake in shares of Life360 during the fourth quarter worth approximately $47,097,000. Finally, Federated Hermes Inc. raised its holdings in Life360 by 31.7% in the fourth quarter. Federated Hermes Inc. now owns 588,182 shares of the company’s stock valued at $37,726,000 after acquiring an additional 141,438 shares in the last quarter. Hedge funds and other institutional investors own 20.00% of the company’s stock.

Insider Activity at Life360

In related news, Director Chris Hulls sold 16,042 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $47.07, for a total transaction of $755,096.94. Following the transaction, the director owned 406,899 shares in the company, valued at $19,152,735.93. This trade represents a 3.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $46.07, for a total value of $365,335.10. Following the transaction, the director directly owned 109,911 shares in the company, valued at approximately $5,063,599.77. This trade represents a 6.73% 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. Insiders have sold 57,006 shares of company stock valued at $2,614,066 over the last quarter. 6.80% of the stock is owned by insiders.

Life360 Stock Up 5.3%

Shares of NASDAQ:LIF opened at $56.68 on Wednesday. The firm has a 50 day simple moving average of $49.57 and a 200-day simple moving average of $48.50. Life360, Inc. has a twelve month low of $37.01 and a twelve month high of $112.54. The company has a current ratio of 5.37, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $4.59 billion, a PE ratio of 32.76 and a beta of 2.34.

Analyst Ratings Changes

A number of research analysts recently issued reports on LIF shares. Evercore set a $68.00 price target on shares of Life360 in a research note on Tuesday, May 12th. Canaccord Genuity Group set a $72.00 price objective on shares of Life360 in a report on Tuesday, May 12th. Weiss Ratings cut shares of Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. DA Davidson boosted their target price on shares of Life360 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Finally, Morgan Stanley began coverage on Life360 in a report on Tuesday, July 21st. They issued an “overweight” rating and a $66.24 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.