Cherrydale Wealth Management LLC Makes New Investment in Life360, Inc. (NASDAQ:LIF)

Cherrydale Wealth Management LLC purchased a new stake in shares of Life360, Inc. (NASDAQ:LIF) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,235 shares of the company’s stock, valued at approximately $340,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hodges Capital Management Inc. bought a new stake in shares of Life360 during the 3rd quarter valued at $3,876,000. FMR LLC lifted its holdings in Life360 by 6.1% during the third quarter. FMR LLC now owns 1,520,135 shares of the company’s stock valued at $59,817,000 after purchasing an additional 86,917 shares in the last quarter. State Street Corp purchased a new stake in shares of Life360 in the third quarter worth $2,393,000. The Manufacturers Life Insurance Company bought a new stake in shares of Life360 during the 3rd quarter valued at $675,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in Life360 during the third quarter valued at about $547,000. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Life360 Trading Up 6.9 %

NASDAQ:LIF traded up $2.80 during mid-day trading on Friday, hitting $43.37. 218,400 shares of the company’s stock traded hands, compared to its average volume of 271,953. The company has a fifty day moving average of $43.92 and a 200 day moving average of $39.83. Life360, Inc. has a twelve month low of $26.00 and a twelve month high of $52.76.

Wall Street Analyst Weigh In

Several brokerages have commented on LIF. JMP Securities boosted their price target on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 14th. Stifel Nicolaus increased their price target on Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, October 28th. UBS Group upgraded Life360 from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $55.00 in a report on Friday. Finally, Canaccord Genuity Group upped their price objective on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Life360 presently has a consensus rating of “Buy” and a consensus target price of $47.63.

Insider Buying and Selling

In related news, CFO Russell John Burke sold 3,104 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $42.74, for a total transaction of $132,664.96. Following the sale, the chief financial officer now directly owns 151,858 shares of the company’s stock, valued at approximately $6,490,410.92. This represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark Goines sold 50,000 shares of Life360 stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $40.70, for a total transaction of $2,035,000.00. Following the completion of the transaction, the director now directly owns 76,272 shares of the company’s stock, valued at $3,104,270.40. The trade was a 39.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 635,881 shares of company stock worth $26,117,045 in the last 90 days.

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.