Life360 (NASDAQ:LIF) Shares Gap Down Following Insider Selling

Life360, Inc. (NASDAQ:LIF) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $41.40, but opened at $40.08. Life360 shares last traded at $39.54, with a volume of 26,873 shares.

Specifically, CFO Russell John Burke sold 3,104 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $39.35, for a total value of $122,142.40. Following the transaction, the chief financial officer now directly owns 181,857 shares of the company’s stock, valued at approximately $7,156,072.95. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Lauren Antonoff sold 4,546 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $38.64, for a total transaction of $175,657.44. Following the transaction, the chief operating officer now owns 317,802 shares in the company, valued at $12,279,869.28. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group upgraded Life360 from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $55.00 in a report on Friday, January 17th. Canaccord Genuity Group upped their target price on shares of Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Life360 has an average rating of “Buy” and an average target price of $47.63.

Life360 Stock Down 2.3 %

The firm has a fifty day moving average of $43.65 and a two-hundred day moving average of $42.85.

Life360 (NASDAQ:LIF) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. The business had revenue of $115.53 million for the quarter, compared to analysts’ expectations of $114.39 million. As a group, analysts forecast that Life360, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Life360

Large investors have recently made changes to their positions in the stock. New York State Common Retirement Fund bought a new stake in shares of Life360 during the 4th quarter valued at $25,000. Summit Investment Advisors Inc. grew its holdings in Life360 by 82.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock valued at $44,000 after buying an additional 484 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Life360 during the third quarter valued at about $98,000. MetLife Investment Management LLC purchased a new stake in shares of Life360 in the third quarter worth about $139,000. Finally, KBC Group NV bought a new position in shares of Life360 in the fourth quarter valued at approximately $147,000. 20.00% of the stock is owned by institutional investors.

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.