Life360, Inc. (NASDAQ:LIF) Short Interest Down 17.4% in January

Life360, Inc. (NASDAQ:LIF) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 772,600 shares, a drop of 17.4% from the January 15th total of 935,200 shares. Based on an average daily trading volume, of 405,200 shares, the short-interest ratio is presently 1.9 days. Currently, 1.2% of the company’s stock are sold short.

Insider Activity

In other news, Director Mark Goines sold 50,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $40.70, for a total value of $2,035,000.00. Following the sale, the director now owns 76,272 shares in the company, valued at $3,104,270.40. This represents a 39.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Russell John Burke sold 3,104 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $43.97, for a total transaction of $136,482.88. Following the transaction, the chief financial officer now owns 158,066 shares of the company’s stock, valued at $6,950,162.02. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,520 shares of company stock worth $3,571,283.

Institutional Investors Weigh In On Life360

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LIF. FMR LLC grew its stake in shares of Life360 by 6.1% in the third quarter. FMR LLC now owns 1,520,135 shares of the company’s stock valued at $59,817,000 after buying an additional 86,917 shares in the last quarter. Wealthstream Advisors Inc. acquired a new stake in shares of Life360 during the third quarter worth about $35,538,000. Franklin Resources Inc. boosted its stake in shares of Life360 by 402.9% in the fourth quarter. Franklin Resources Inc. now owns 539,592 shares of the company’s stock valued at $22,269,000 after purchasing an additional 432,292 shares during the period. Marshall Wace LLP increased its stake in Life360 by 86.2% during the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company’s stock worth $16,975,000 after buying an additional 190,422 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in Life360 by 49.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 303,393 shares of the company’s stock worth $12,521,000 after buying an additional 100,217 shares in the last quarter. Institutional investors and hedge funds own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LIF. Canaccord Genuity Group upped their price objective on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. UBS Group upgraded shares of Life360 from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $55.00 in a research report on Friday, January 17th. Stifel Nicolaus raised their target price on Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, JMP Securities raised their price objective on Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $47.63.

Life360 Trading Up 0.1 %

NASDAQ:LIF opened at $46.46 on Friday. The company’s 50-day moving average is $43.66 and its two-hundred day moving average is $41.61. Life360 has a 1-year low of $26.00 and a 1-year high of $52.76.

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.