The Manufacturers Life Insurance Company Takes Position in Life360, Inc. (NASDAQ:LIF)

The Manufacturers Life Insurance Company acquired a new stake in Life360, Inc. (NASDAQ:LIF) in the 3rd quarter, HoldingsChannel reports. The fund acquired 17,148 shares of the company’s stock, valued at approximately $675,000.

A number of other large investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. bought a new stake in Life360 in the 3rd quarter valued at $547,000. Wealthstream Advisors Inc. bought a new position in Life360 during the 3rd quarter worth $35,538,000. WealthPlan Investment Management LLC increased 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 worth $383,000 after buying an additional 738 shares during the period. XY Capital Ltd increased its position in Life360 by 157.4% during the 3rd quarter. XY Capital Ltd now owns 16,295 shares of the company’s stock worth $641,000 after buying an additional 9,965 shares during the period. Finally, Emerald Advisers LLC increased its position in Life360 by 6.0% during the 3rd quarter. Emerald Advisers LLC now owns 221,679 shares of the company’s stock worth $8,723,000 after buying an additional 12,458 shares during the period. Institutional investors own 20.00% of the company’s stock.

Insider Activity

In other news, CEO Chris Hulls sold 556,569 shares of Life360 stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $41.02, for a total transaction of $22,830,460.38. Following the sale, the chief executive officer now directly owns 952,696 shares of the company’s stock, valued at approximately $39,079,589.92. This trade represents a 36.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Russell John Burke sold 3,104 shares of Life360 stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $43.97, for a total value of $136,482.88. Following the sale, the chief financial officer now directly owns 158,066 shares in the company, valued at $6,950,162.02. The trade was a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 629,673 shares of company stock valued at $25,855,843.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Loop Capital increased their target price on Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. JMP Securities increased their target price on Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. Stifel Nicolaus increased their target price on Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, October 28th. 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 research 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 MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $47.00.

Life360 Trading Up 0.7 %

NASDAQ:LIF opened at $43.81 on Friday. The company has a 50-day simple moving average of $44.88. Life360, Inc. has a twelve month low of $26.00 and a twelve month high of $52.76.

About Life360

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.