Life360 (NASDAQ:LIF) Stock Price Down 5.5% – What’s Next?

Life360, Inc. (NASDAQ:LIF) dropped 5.5% during mid-day trading on Monday . The company traded as low as $44.66 and last traded at $45.39. Approximately 40,630 shares changed hands during trading, a decline of 87% from the average daily volume of 309,819 shares. The stock had previously closed at $48.01.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LIF. UBS Group raised their target price on shares of Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. JMP Securities increased their target price on Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. Stifel Nicolaus boosted 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. Loop Capital increased their price objective on shares of Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Canaccord Genuity Group boosted their target price on shares of Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. One research 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 currently has an average rating of “Buy” and a consensus price target of $47.00.

Life360 Stock Down 8.0 %

The business has a 50-day moving average price of $44.51.

Insider Activity

In other news, Director Charles J. Prober sold 40,000 shares of Life360 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 owns 106,742 shares of the company’s stock, valued at approximately $3,463,777.90. The trade was a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Goines sold 10,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.89, for a total value of $438,900.00. Following the completion of the transaction, the director now directly owns 66,272 shares in the company, valued at approximately $2,908,678.08. This trade represents a 13.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 666,569 shares of company stock valued at $27,017,360.

Institutional Trading of Life360

A number of hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd bought a new position in shares of Life360 during the 2nd quarter worth approximately $43,000. BNP Paribas Financial Markets acquired a new stake in shares of Life360 in the 3rd quarter worth $98,000. MetLife Investment Management LLC acquired a new position in Life360 during the 3rd quarter valued at about $139,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Life360 in the second quarter valued at about $192,000. Finally, XY Capital Ltd purchased a new stake in shares of Life360 during the second quarter worth about $205,000. Hedge funds and other institutional investors own 20.00% of the company’s stock.

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.