Life360 (NASDAQ:LIF) Sets New 12-Month High – Should You Buy?

Life360, Inc. (NASDAQ:LIF) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $48.99 and last traded at $48.87, with a volume of 356718 shares changing hands. The stock had previously closed at $46.33.

Analysts Set New Price Targets

Several research firms recently commented on LIF. Loop Capital raised their target price on Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. UBS Group lifted their price objective on Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. JMP Securities lifted their price objective on Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 14th. Jefferies Financial Group started coverage on Life360 in a report on Friday, August 9th. They set a “buy” rating and a $43.00 target price on the stock. Finally, Stifel Nicolaus boosted their price target on Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $44.75.

Life360 Trading Up 6.6 %

The firm has a 50-day moving average of $42.47.

Insiders Place Their Bets

In related news, CEO Chris Hulls sold 556,569 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.02, for a total value of $22,830,460.38. Following the completion of the transaction, the chief executive officer now directly owns 952,696 shares in the company, valued at approximately $39,079,589.92. The trade was a 36.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Synge sold 33,617 shares of Life360 stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $37.04, for a total transaction of $1,245,173.68. Following the transaction, the director now directly owns 291,944 shares in the company, valued at $10,813,605.76. This trade represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 703,657 shares of company stock worth $28,392,141.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LIF. FMR LLC increased its position 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 during the period. Wealthstream Advisors Inc. purchased a new stake in shares of Life360 during the 3rd quarter valued at about $35,538,000. Regal Partners Ltd purchased a new stake in Life360 in the 2nd quarter worth approximately $23,635,000. Millennium Management LLC purchased a new stake in Life360 in the 2nd quarter worth approximately $11,861,000. Finally, Ghisallo Capital Management LLC purchased a new stake in Life360 during the 2nd quarter valued at approximately $8,098,000.

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.