Life360 (NASDAQ:LIF) Shares Up 6.9% – Still a Buy?

Shares of Life360, Inc. (NASDAQ:LIF) rose 6.9% during trading on Monday . The company traded as high as $43.77 and last traded at $43.77. Approximately 32,922 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 269,564 shares. The stock had previously closed at $40.95.

Wall Street Analysts Forecast Growth

LIF has been the subject of several research analyst reports. UBS Group lifted their price target on shares of Life360 from $35.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus upped their target price on Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Loop Capital raised their price target on 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 started 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, JMP Securities increased their target price on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $44.75.

Life360 Stock Performance

The firm has a 50-day moving average of $42.03.

Insiders Place Their Bets

In related news, Director James Synge sold 3,471 shares of Life360 stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $37.34, for a total value of $129,607.14. Following the completion of the sale, the director now directly owns 67,102 shares in the company, valued at $2,505,588.68. This trade represents a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Philip Coghlan sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.50, for a total transaction of $415,000.00. Following the sale, the director now directly owns 41,628 shares in the company, valued at approximately $1,727,562. This represents a 19.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 643,657 shares of company stock valued at $25,918,241.

Institutional Investors Weigh In On Life360

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new stake in Life360 in the second quarter valued at approximately $43,000. BNP Paribas Financial Markets acquired a new stake in shares of Life360 in the third quarter worth $98,000. MetLife Investment Management LLC purchased a new position in shares of Life360 during the third quarter worth $139,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Life360 during the second quarter valued at $192,000. Finally, XY Capital Ltd acquired a new position in Life360 during the second quarter valued at $205,000.

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.