Life360 (NASDAQ:LIF) Shares Gap Down – Here’s What Happened

Life360, Inc. (NASDAQ:LIF)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $52.48, but opened at $51.31. Life360 shares last traded at $51.06, with a volume of 55,618 shares.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. UBS Group upped their price target on Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. JMP Securities upped their price objective on Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note 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 research note on Monday, October 28th. Jefferies Financial Group began coverage on Life360 in a research note on Friday, August 9th. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Canaccord Genuity Group upped their price objective on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday. One research 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’s stock. According to data from MarketBeat.com, Life360 has a consensus rating of “Buy” and an average target price of $47.00.

Life360 Price Performance

The company’s 50 day moving average price is $43.58.

Insider Buying and Selling

In related news, Director James Synge sold 33,617 shares of Life360 stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $37.04, for a total value of $1,245,173.68. Following the transaction, the director now directly owns 291,944 shares of the company’s stock, valued at $10,813,605.76. The trade was a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Goines sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $43.89, for a total value of $438,900.00. Following the completion of the transaction, the director now directly owns 66,272 shares in the company, valued at approximately $2,908,678.08. This trade represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 703,657 shares of company stock valued at $28,392,141 over the last ninety days.

Institutional Investors Weigh In On Life360

Hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Advisers LLC bought a new stake in shares of Life360 during the second quarter valued at approximately $6,777,000. Millennium Management LLC bought a new stake in Life360 during the second quarter worth $11,861,000. Regal Partners Ltd bought a new stake in Life360 during the second quarter worth $23,635,000. Ghisallo Capital Management LLC bought a new stake in Life360 during the second quarter worth $8,098,000. Finally, Ausbil Investment Management Ltd bought a new stake in Life360 during the third quarter worth $2,749,000.

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.