Life360 (NASDAQ:LIF) Shares Gap Down After Insider Selling

Life360, Inc. (NASDAQ:LIF) shares gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $42.23, but opened at $40.29. Life360 shares last traded at $40.09, with a volume of 46,307 shares.

Specifically, Director Mark Goines sold 30,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the completion of the sale, the director now owns 36,272 shares of the company’s stock, valued at approximately $1,523,424. This trade represents a 45.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Lauren Antonoff sold 13,106 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $42.08, for a total transaction of $551,500.48. Following the transaction, the chief operating officer now directly owns 280,663 shares in the company, valued at approximately $11,810,299.04. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, General Counsel Susan L. Stick sold 2,822 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $42.08, for a total value of $118,749.76. Following the completion of the sale, the general counsel now owns 86,752 shares in the company, valued at $3,650,524.16. This trade represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LIF. JMP Securities increased their target price on shares of Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $55.00 in a research note on Friday, January 17th. Finally, Canaccord Genuity Group boosted their target price on Life360 from $54.00 to $58.00 and gave the stock 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Life360 currently has an average rating of “Buy” and an average price target of $47.63.

Life360 Trading Down 0.2 %

The business has a fifty day simple moving average of $44.02 and a 200 day simple moving average of $42.75.

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

Institutional Trading of Life360

Several hedge funds and other institutional investors have recently bought and sold shares of LIF. WealthPlan Investment Management LLC lifted its stake in shares of Life360 by 2.5% during the 4th quarter. WealthPlan Investment Management LLC now owns 9,992 shares of the company’s stock worth $412,000 after purchasing an additional 247 shares during the period. Summit Investment Advisors Inc. lifted its position in Life360 by 82.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock worth $44,000 after buying an additional 484 shares during the period. New York State Common Retirement Fund acquired a new stake in Life360 in the 4th quarter worth about $25,000. Corebridge Financial Inc. grew its holdings in Life360 by 64.0% in the 4th quarter. Corebridge Financial Inc. now owns 5,092 shares of the company’s stock valued at $210,000 after buying an additional 1,987 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Life360 in the 3rd quarter valued at about $98,000. 20.00% of the stock is owned by hedge funds and other institutional investors.

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.