Life360, Inc. (NASDAQ:LIF) Short Interest Up 73.3% in March

Life360, Inc. (NASDAQ:LIF) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,090,000 shares, an increase of 73.3% from the February 28th total of 628,800 shares. Based on an average daily volume of 454,900 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.6% of the company’s stock are short sold.

Life360 Price Performance

NASDAQ:LIF opened at $38.63 on Monday. The company’s 50 day moving average is $43.55 and its 200-day moving average is $43.03. Life360 has a 12 month low of $26.00 and a 12 month high of $52.77.

Life360 (NASDAQ:LIF) last announced its earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. The firm had revenue of $115.53 million during the quarter, compared to the consensus estimate of $114.39 million. Sell-side analysts forecast that Life360 will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LIF. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $55.00 in a research note on Friday, January 17th. Canaccord Genuity Group raised their price objective 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. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $47.63.

Insider Buying and Selling

In other news, CFO Russell John Burke sold 3,104 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $42.74, for a total transaction of $132,664.96. Following the transaction, the chief financial officer now directly owns 151,858 shares in the company, valued at $6,490,410.92. The trade was a 2.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Susan L. Stick sold 2,822 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $42.08, for a total value of $118,749.76. Following the sale, the general counsel now owns 86,752 shares of the company’s stock, valued at approximately $3,650,524.16. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 159,189 shares of company stock worth $6,708,942.

Institutional Trading of Life360

Several hedge funds have recently added to or reduced their stakes in LIF. FMR LLC boosted its holdings in Life360 by 6.1% in 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. Millennium Management LLC lifted its stake in shares of Life360 by 9.2% in the fourth quarter. Millennium Management LLC now owns 1,114,922 shares of the company’s stock valued at $46,013,000 after buying an additional 94,077 shares during the period. Franklin Resources Inc. increased its stake in Life360 by 402.9% during the fourth quarter. Franklin Resources Inc. now owns 539,592 shares of the company’s stock valued at $22,269,000 after acquiring an additional 432,292 shares during the period. Marshall Wace LLP increased its stake in Life360 by 86.2% during the fourth quarter. Marshall Wace LLP now owns 411,326 shares of the company’s stock valued at $16,975,000 after acquiring an additional 190,422 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in Life360 by 49.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 303,393 shares of the company’s stock valued at $12,521,000 after acquiring an additional 100,217 shares in the last quarter. Institutional investors own 20.00% of the company’s stock.

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.