Jane Street Group LLC Trims Holdings in Life360, Inc. (NASDAQ:LIF)

Jane Street Group LLC decreased its stake in shares of Life360, Inc. (NASDAQ:LIF) by 51.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,413 shares of the company’s stock after selling 63,094 shares during the quarter. Jane Street Group LLC’s holdings in Life360 were worth $2,493,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new position in Life360 during the fourth quarter worth approximately $25,000. Summit Investment Advisors Inc. increased its stake in Life360 by 82.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock worth $44,000 after acquiring an additional 484 shares during the last quarter. KBC Group NV acquired a new stake in Life360 during the fourth quarter worth $147,000. Corebridge Financial Inc. increased its stake in Life360 by 64.0% during the fourth quarter. Corebridge Financial Inc. now owns 5,092 shares of the company’s stock worth $210,000 after acquiring an additional 1,987 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in Life360 by 79.9% during the fourth quarter. MetLife Investment Management LLC now owns 6,373 shares of the company’s stock worth $263,000 after acquiring an additional 2,830 shares during the last quarter. Hedge funds and other institutional investors own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LIF. Stifel Nicolaus cut their target price on Life360 from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. UBS Group lifted their price objective on Life360 from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Loop Capital lifted their price objective on Life360 from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Life360 has an average rating of “Buy” and an average price target of $49.50.

Life360 Trading Up 0.5%

NASDAQ:LIF opened at $58.57 on Friday. The stock has a fifty day moving average price of $40.47 and a 200 day moving average price of $43.03. Life360, Inc. has a 12-month low of $26.00 and a 12-month high of $62.64.

Life360 (NASDAQ:LIF) last released its earnings results on Monday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $103.62 million during the quarter, compared to analyst estimates of $101.48 million. Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. As a group, sell-side analysts forecast that Life360, Inc. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John Philip Coghlan sold 3,125 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $43.30, for a total transaction of $135,312.50. Following the completion of the transaction, the director now directly owns 32,903 shares of the company’s stock, valued at approximately $1,424,699.90. This represents a 8.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles J. Prober sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 disclosure for this sale can be found here. Insiders sold 173,881 shares of company stock valued at $7,220,851 in the last ninety days. Insiders own 8.00% of the company’s stock.

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.