Life360 (NASDAQ:LIF) Stock Price Down 5.6% Following Insider Selling

Life360, Inc. (NASDAQ:LIF) shares fell 5.6% during trading on Monday after an insider sold shares in the company. The company traded as low as $39.61 and last traded at $39.62. 18,913 shares changed hands during trading, a decline of 93% from the average session volume of 266,439 shares. The stock had previously closed at $41.95.

Specifically, CEO Chris Hulls sold 556,569 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $41.02, for a total transaction of $22,830,460.38. Following the sale, the chief executive officer now owns 952,696 shares in the company, valued at approximately $39,079,589.92. This trade represents a 36.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LIF shares. JMP Securities lifted their price objective on shares of Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, November 14th. Stifel Nicolaus upped their price objective on Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Loop Capital upped their price target on shares of Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group began coverage on shares of Life360 in a research note on Friday, August 9th. They issued a “buy” rating and a $43.00 price objective for the company. Finally, UBS Group boosted 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. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $44.75.

Life360 Trading Up 3.2 %

The company has a 50 day moving average of $41.54.

Hedge Funds Weigh In On Life360

Several institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new position in Life360 during the third quarter worth about $320,000. First Dallas Securities Inc. acquired a new position in Life360 during the third quarter worth about $273,000. Geode Capital Management LLC purchased a new stake in shares of Life360 in the third quarter valued at about $5,134,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Life360 in the third quarter valued at approximately $1,653,000. Finally, Hodges Capital Management Inc. acquired a new stake in Life360 during the 3rd quarter valued at $3,876,000.

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.