Shares of Life360, Inc. (NASDAQ:LIF – Get Free Report) rose 5.3% during trading on Thursday . The stock traded as high as $47.14 and last traded at $45.4990. Approximately 286,206 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 1,051,789 shares. The stock had previously closed at $43.19.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. Evercore set a $68.00 price target on shares of Life360 in a report on Tuesday, May 12th. Bank of America boosted their target price on shares of Life360 from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Canaccord Genuity Group set a $72.00 price target on Life360 in a report on Tuesday, May 12th. UBS Group lowered their price objective on shares of Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Life360 in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Life360 has an average rating of “Moderate Buy” and an average price target of $60.72.
View Our Latest Analysis on LIF
Life360 Stock Down 2.5%
Life360 (NASDAQ:LIF – Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The company had revenue of $158.96 million for the quarter, compared to analyst estimates of $156.68 million. Life360 had a return on equity of 5.66% and a net margin of 25.73%. Sell-side analysts forecast that Life360, Inc. will post 0.53 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Chris Hulls sold 250,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $46.84, for a total transaction of $11,710,000.00. Following the transaction, the director directly owned 382,056 shares of the company’s stock, valued at approximately $17,895,503.04. The trade was a 39.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles J. Prober sold 7,930 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $48.59, for a total transaction of $385,318.70. Following the completion of the transaction, the director owned 109,930 shares of the company’s stock, valued at $5,341,498.70. This trade represents a 6.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 352,637 shares of company stock worth $17,104,265 over the last three months. Insiders own 6.80% of the company’s stock.
Hedge Funds Weigh In On Life360
Institutional investors have recently added to or reduced their stakes in the company. Strive Financial Group LLC purchased a new position in Life360 in the 4th quarter valued at about $26,000. MCF Advisors LLC purchased a new stake in shares of Life360 during the fourth quarter worth about $32,000. NewEdge Advisors LLC acquired a new position in shares of Life360 in the third quarter worth about $32,000. IFP Advisors Inc purchased a new position in Life360 in the third quarter valued at about $47,000. Finally, Advisors Asset Management Inc. grew its stake in Life360 by 136.6% during the 4th quarter. Advisors Asset Management Inc. now owns 899 shares of the company’s stock valued at $58,000 after purchasing an additional 519 shares in the last quarter. Institutional investors and hedge funds own 20.00% of the company’s stock.
Life360 Company Profile
Life360, Inc (NASDAQ: LIF) operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company’s services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.
The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.
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