Lord Abbett & CO. LLC Buys New Position in Life360, Inc. (NASDAQ:LIF)

Lord Abbett & CO. LLC purchased a new position in shares of Life360, Inc. (NASDAQ:LIF) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 203,176 shares of the company’s stock, valued at approximately $7,995,000. Lord Abbett & CO. LLC owned about 0.27% of Life360 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LIF. Point72 DIFC Ltd bought a new stake in shares of Life360 during the 2nd quarter valued at about $43,000. BNP Paribas Financial Markets bought a new position in shares of Life360 during the 3rd quarter worth approximately $98,000. MetLife Investment Management LLC acquired a new stake in shares of Life360 during the 3rd quarter worth approximately $139,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Life360 in the 2nd quarter valued at $192,000. Finally, SG Americas Securities LLC acquired a new position in shares of Life360 during the 3rd quarter valued at $246,000. Institutional investors and hedge funds own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. 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. Stifel Nicolaus boosted their target price on Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Loop Capital increased their price target on Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. JMP Securities boosted their price objective on Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. Finally, UBS Group increased their target price on Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $47.00.

Insider Buying and Selling

In related news, CEO Chris Hulls sold 556,569 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $41.02, for a total transaction of $22,830,460.38. Following the transaction, the chief executive officer now directly owns 952,696 shares in the company, valued at approximately $39,079,589.92. The trade was a 36.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Philip Coghlan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.50, for a total transaction of $415,000.00. Following the completion of the sale, the director now directly owns 41,628 shares of the company’s stock, valued at $1,727,562. The trade was a 19.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 629,673 shares of company stock worth $25,855,843.

Life360 Price Performance

Shares of Life360 stock opened at $43.49 on Tuesday. Life360, Inc. has a 52 week low of $26.00 and a 52 week high of $52.76. The business has a 50 day moving average of $44.92.

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.