Permanent Capital Management LP Makes New $889,000 Investment in Life360, Inc. (NASDAQ:LIF)

Permanent Capital Management LP bought a new stake in shares of Life360, Inc. (NASDAQ:LIF) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 21,539 shares of the company’s stock, valued at approximately $889,000. Life360 makes up about 0.3% of Permanent Capital Management LP’s portfolio, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of LIF. XY Capital Ltd boosted its position in Life360 by 157.4% during the 3rd quarter. XY Capital Ltd now owns 16,295 shares of the company’s stock valued at $641,000 after acquiring an additional 9,965 shares in the last quarter. WealthPlan Investment Management LLC boosted its position in Life360 by 8.2% during the 3rd quarter. WealthPlan Investment Management LLC now owns 9,745 shares of the company’s stock valued at $383,000 after acquiring an additional 738 shares in the last quarter. Wealthstream Advisors Inc. bought a new stake in Life360 during the 3rd quarter valued at $35,538,000. Charles Schwab Investment Management Inc. bought a new stake in Life360 during the 3rd quarter valued at $547,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Life360 during the 3rd quarter valued at $675,000. Institutional investors own 20.00% of the company’s stock.

Life360 Stock Up 5.1 %

Shares of LIF opened at $43.94 on Friday. The stock has a 50-day moving average of $44.00 and a two-hundred day moving average of $42.63. Life360, Inc. has a one year low of $26.00 and a one year high of $52.76.

Life360 (NASDAQ:LIF) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. The firm had revenue of $115.53 million for the quarter, compared to analyst estimates of $114.39 million. On average, equities analysts expect that Life360, Inc. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Russell John Burke sold 3,104 shares of Life360 stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.78, for a total value of $145,205.12. Following the completion of the transaction, the chief financial officer now owns 148,754 shares in the company, valued at $6,958,712.12. The trade was a 2.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles J. Prober sold 50,000 shares of Life360 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 completion of the transaction, the director now owns 102,742 shares of the company’s stock, valued at approximately $4,265,847.84. This represents a 32.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,715 shares of company stock valued at $3,487,935.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LIF shares. Canaccord Genuity Group raised their price objective on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $55.00 in a research report on Friday, January 17th. Finally, JMP Securities raised their price objective on Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.