Federated Hermes Inc. Acquires Shares of 27,769 Life360, Inc. (NASDAQ:LIF)

Federated Hermes Inc. purchased a new stake in shares of Life360, Inc. (NASDAQ:LIF) during the fourth quarter, Holdings Channel.com reports. The fund purchased 27,769 shares of the company’s stock, valued at approximately $1,146,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LIF. State Street Corp purchased a new position in shares of Life360 in the 3rd quarter worth approximately $2,393,000. Cherrydale Wealth Management LLC purchased a new stake in shares of Life360 during the 4th quarter valued at $340,000. JPMorgan Chase & Co. boosted its holdings in shares of Life360 by 295.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,054 shares of the company’s stock worth $514,000 after buying an additional 9,754 shares during the last quarter. Swiss National Bank bought a new position in Life360 during the fourth quarter valued at about $5,717,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Life360 during the third quarter worth about $547,000. Hedge funds and other institutional investors own 20.00% of the company’s stock.

Life360 Price Performance

Shares of LIF stock opened at $36.02 on Tuesday. Life360, Inc. has a 1 year low of $26.00 and a 1 year high of $52.77. The company’s fifty day simple moving average is $40.74 and its two-hundred day simple moving average is $42.87.

Life360 (NASDAQ:LIF) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.10 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 analysts’ expectations of $114.39 million. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. Research analysts anticipate that Life360, Inc. will post -0.17 EPS for the current year.

Insider Activity

In other Life360 news, General Counsel Susan L. Stick sold 2,822 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $42.08, for a total value of $118,749.76. Following the completion of the sale, the general counsel now directly owns 86,752 shares of the company’s stock, valued at $3,650,524.16. The trade was a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles J. Prober sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $41.52, for a total transaction of $2,076,000.00. Following the sale, the director now owns 102,742 shares of the company’s stock, valued at approximately $4,265,847.84. The trade was a 32.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,814 shares of company stock worth $7,012,426.

Wall Street Analysts Forecast Growth

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