Life360 (NASDAQ:LIF) Sees Unusually-High Trading Volume Following Analyst Upgrade

Life360, Inc. (NASDAQ:LIF) saw an uptick in trading volume on Friday after JMP Securities raised their price target on the stock from $40.00 to $55.00. JMP Securities currently has a market outperform rating on the stock. 1,676,323 shares changed hands during mid-day trading, an increase of 534% from the previous session’s volume of 264,531 shares.The stock last traded at $41.34 and had previously closed at $43.88.

A number of other brokerages have also recently issued reports on LIF. UBS Group lifted their target price on shares of Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Loop Capital upped their price objective on Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Stifel Nicolaus lifted their price target on shares of Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group began coverage on Life360 in a report on Friday, August 9th. They issued a “buy” rating and a $43.00 price target for the company. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $44.75.

Insider Activity

In other Life360 news, Director Charles J. Prober sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $32.45, for a total transaction of $1,298,000.00. Following the completion of the sale, the director now directly owns 106,742 shares in the company, valued at $3,463,777.90. The trade was a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Synge sold 3,471 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $37.34, for a total transaction of $129,607.14. Following the completion of the transaction, the director now directly owns 67,102 shares in the company, valued at approximately $2,505,588.68. This represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,657 shares of company stock valued at $25,503,241 in the last ninety days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Life360 by 6.1% during the 3rd 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. Wealthstream Advisors Inc. acquired a new stake in shares of Life360 in the 3rd quarter valued at about $35,538,000. Regal Partners Ltd acquired a new stake in Life360 during the second quarter valued at approximately $23,635,000. Millennium Management LLC bought a new position in Life360 during the 2nd quarter worth approximately $11,861,000. Finally, Ghisallo Capital Management LLC acquired a new position in shares of Life360 in the 2nd quarter worth approximately $8,098,000.

Life360 Price Performance

The company’s fifty day moving average is $41.24.

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.