Principal Financial Group Inc. Has $18.92 Million Stock Holdings in Life360, Inc. $LIF

Principal Financial Group Inc. lifted its holdings in shares of Life360, Inc. (NASDAQ:LIF) by 455.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 463,442 shares of the company’s stock after acquiring an additional 379,941 shares during the period. Principal Financial Group Inc.’s holdings in Life360 were worth $18,918,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in LIF. Wilson Asset Management International PTY Ltd. raised its position in Life360 by 108.6% in the fourth quarter. Wilson Asset Management International PTY Ltd. now owns 50,000 shares of the company’s stock worth $3,207,000 after purchasing an additional 26,028 shares in the last quarter. Greenspring Advisors LLC acquired a new stake in Life360 during the fourth quarter valued at approximately $21,720,000. XY Capital Ltd acquired a new stake in Life360 during the fourth quarter valued at approximately $6,063,000. Milford Funds Ltd. bought a new stake in shares of Life360 in the 4th quarter valued at approximately $9,604,000. Finally, Hodges Capital Management Inc. grew its stake in shares of Life360 by 36.4% in the 4th quarter. Hodges Capital Management Inc. now owns 63,546 shares of the company’s stock valued at $4,076,000 after purchasing an additional 16,972 shares during the period. 20.00% of the stock is currently owned by institutional investors and hedge funds.

Life360 Price Performance

Shares of Life360 stock opened at $52.03 on Thursday. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 30.08 and a beta of 2.34. The firm’s 50-day moving average price is $48.53 and its two-hundred day moving average price is $48.84. The company has a current ratio of 5.37, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52. Life360, Inc. has a 1-year low of $37.01 and a 1-year high of $112.54.

Analysts Set New Price Targets

Several research firms recently commented on LIF. Canaccord Genuity Group set a $72.00 target price on Life360 in a research report on Tuesday, May 12th. Morgan Stanley assumed coverage on Life360 in a research report on Tuesday. They issued an “overweight” rating and a $66.24 price target on the stock. Macquarie Infrastructure started coverage on Life360 in a research note on Tuesday, April 28th. They set an “outperform” rating and a $32.20 price objective for the company. DA Davidson lifted their price objective on Life360 from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Finally, Bank of America lifted their price objective on Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Life360 currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.81.

Insider Activity

In related news, Director Brit Morin sold 4,655 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $55.00, for a total transaction of $256,025.00. Following the completion of the sale, the director directly owned 25,975 shares of the company’s stock, valued at $1,428,625. This trade represents a 15.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Chris Hulls sold 16,379 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $40.34, for a total value of $660,728.86. Following the sale, the director directly owned 403,485 shares of the company’s stock, valued at $16,276,584.90. This represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 57,006 shares of company stock worth $2,614,066. 6.80% of the stock is currently owned by insiders.

Life360 Profile

Life360, Inc (NASDAQ: LIF) operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company’s services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.