Wilson Asset Management International PTY Ltd. Makes New Investment in Life360, Inc. (NASDAQ:LIF)

Wilson Asset Management International PTY Ltd. bought a new position in Life360, Inc. (NASDAQ:LIF) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 30,137 shares of the company’s stock, valued at approximately $1,244,000. Life360 makes up about 0.3% of Wilson Asset Management International PTY Ltd.’s portfolio, making the stock its 29th largest holding.

A number of other hedge funds have also added to or reduced their stakes in LIF. New York State Common Retirement Fund purchased a new stake in Life360 during the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets purchased a new position in shares of Life360 in the third quarter worth $98,000. MetLife Investment Management LLC purchased a new position in shares of Life360 in the third quarter worth $139,000. KBC Group NV purchased a new position in shares of Life360 in the fourth quarter worth $147,000. Finally, First Dallas Securities Inc. purchased a new position in shares of Life360 in the third quarter worth $273,000. 20.00% of the stock is currently owned by institutional investors.

Life360 Trading Down 3.6 %

Shares of NASDAQ LIF opened at $40.71 on Wednesday. The company’s 50-day simple moving average is $44.03 and its 200-day simple moving average is $42.76. Life360, Inc. has a 52-week low of $26.00 and a 52-week high of $52.76.

Life360 (NASDAQ:LIF) last announced its 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). Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. The company had revenue of $115.53 million during the quarter, compared to analyst estimates of $114.39 million. Equities analysts expect that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other news, Director Charles J. Prober sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $41.52, for a total value of $2,076,000.00. Following the transaction, the director now directly owns 102,742 shares of the company’s stock, valued at approximately $4,265,847.84. This trade represents a 32.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Russell John Burke sold 3,104 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $41.41, for a total transaction of $128,536.64. Following the completion of the transaction, the chief financial officer now directly owns 154,962 shares in the company, valued at approximately $6,416,976.42. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,539 shares of company stock worth $5,281,703 over the last 90 days.

Wall Street Analysts Forecast Growth

LIF has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their price target on shares of Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. UBS Group upgraded shares of Life360 from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $55.00 in a research note on Friday, January 17th. Finally, JMP Securities increased their price objective on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 14th. 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, Life360 presently has an average rating of “Buy” and a consensus target price of $47.63.

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.