Life360 (NASDAQ:LIF) Shares Up 8.2% – Here’s Why

Life360, Inc. (NASDAQ:LIF)’s stock price traded up 8.2% during mid-day trading on Friday . The company traded as high as $43.44 and last traded at $43.92. 22,521 shares were traded during trading, a decline of 90% from the average session volume of 220,218 shares. The stock had previously closed at $40.58.

Wall Street Analysts Forecast Growth

LIF has been the topic of several research reports. JMP Securities upped their target price on Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, November 14th. Canaccord Genuity Group upped their price objective on Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, UBS Group raised Life360 from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $55.00 in a report on Friday, January 17th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $47.63.

Life360 Stock Up 11.4 %

The firm’s fifty day simple moving average is $43.92 and its 200 day simple moving average is $42.40.

Life360 (NASDAQ:LIF) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.10 earnings per share (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 firm had revenue of $115.53 million during the quarter, compared to the consensus estimate of $114.39 million. On average, equities research analysts predict that Life360, Inc. will post -0.17 earnings per share for the current year.

Insider Transactions at Life360

In other news, CFO Russell John Burke sold 3,104 shares of Life360 stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $43.60, for a total transaction of $135,334.40. Following the sale, the chief financial officer now directly owns 142,546 shares of the company’s stock, valued at approximately $6,215,005.60. This trade represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Lauren Antonoff sold 14,091 shares of Life360 stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $42.17, for a total transaction of $594,217.47. Following the sale, the chief operating officer now owns 293,769 shares in the company, valued at approximately $12,388,238.73. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,715 shares of company stock valued at $1,411,935.

Hedge Funds Weigh In On Life360

Several large investors have recently modified their holdings of LIF. JT Stratford LLC acquired a new stake in Life360 during the 4th quarter valued at approximately $231,000. Monograph Wealth Advisors LLC raised its stake in Life360 by 56.1% during the fourth quarter. Monograph Wealth Advisors LLC now owns 101,234 shares of the company’s stock worth $4,178,000 after buying an additional 36,400 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Life360 in the fourth quarter valued at $5,090,000. Voloridge Investment Management LLC bought a new stake in Life360 during the fourth quarter valued at $1,902,000. Finally, Squarepoint Ops LLC grew its holdings in Life360 by 303.8% during the 4th quarter. Squarepoint Ops LLC now owns 36,388 shares of the company’s stock worth $1,502,000 after acquiring an additional 27,376 shares during the period. 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.