Life360, Inc. (NASDAQ:LIF) Sees Large Decline in Short Interest

Life360, Inc. (NASDAQ:LIF) was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 772,600 shares, a drop of 17.4% from the January 15th total of 935,200 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average trading volume of 405,200 shares, the days-to-cover ratio is currently 1.9 days.

Insider Buying and Selling at Life360

In related news, Director Mark Goines sold 10,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.89, for a total transaction of $438,900.00. Following the completion of the transaction, the director now owns 66,272 shares in the company, valued at approximately $2,908,678.08. This represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of Life360 stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $43.97, for a total transaction of $136,482.88. Following the completion of the sale, the chief financial officer now owns 158,066 shares in the company, valued at approximately $6,950,162.02. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,520 shares of company stock valued at $3,571,283 over the last ninety days.

Hedge Funds Weigh In On Life360

Several hedge funds have recently added to or reduced their stakes in LIF. SG Americas Securities LLC bought a new position in Life360 in the 3rd quarter valued at $246,000. Ausbil Investment Management Ltd bought a new position in shares of Life360 in the third quarter worth about $2,749,000. Emerald Mutual Fund Advisers Trust increased its stake in Life360 by 0.4% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 170,182 shares of the company’s stock worth $6,697,000 after buying an additional 736 shares during the period. Emerald Advisers LLC boosted its position in Life360 by 6.0% in the 3rd quarter. Emerald Advisers LLC now owns 221,679 shares of the company’s stock valued at $8,723,000 after buying an additional 12,458 shares during the period. Finally, XY Capital Ltd grew its stake in Life360 by 157.4% in the 3rd quarter. XY Capital Ltd now owns 16,295 shares of the company’s stock worth $641,000 after acquiring an additional 9,965 shares in the last quarter. 20.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LIF. Stifel Nicolaus lifted 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. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $55.00 in a report on Friday, January 17th. JMP Securities raised 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. Finally, Canaccord Genuity Group upped their price target on shares of Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Seven 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 a consensus price target of $47.63.

Life360 Trading Up 0.1 %

LIF stock opened at $46.46 on Friday. Life360 has a twelve month low of $26.00 and a twelve month high of $52.76. The firm’s fifty day simple moving average is $43.66 and its two-hundred day simple moving average is $41.68.

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.