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

Life360, Inc. (NASDAQ:LIF) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $41.40, but opened at $40.08. Life360 shares last traded at $39.54, with a volume of 26,873 shares traded.

Specifically, CFO Russell John Burke sold 3,104 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $39.35, for a total value of $122,142.40. Following the sale, the chief financial officer now directly owns 181,857 shares in the company, valued at $7,156,072.95. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Lauren Antonoff sold 4,546 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $38.64, for a total transaction of $175,657.44. Following the transaction, the chief operating officer now owns 317,802 shares of the company’s stock, valued at approximately $12,279,869.28. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LIF shares. Canaccord Genuity Group increased their target price on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. UBS Group raised shares of Life360 from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $55.00 in a research report on Friday, January 17th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $47.63.

Life360 Price Performance

The firm has a 50 day simple moving average of $43.65 and a 200-day simple moving average of $42.85.

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

Institutional Investors Weigh In On Life360

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WealthPlan Investment Management LLC increased its holdings in shares of Life360 by 2.5% during the fourth quarter. WealthPlan Investment Management LLC now owns 9,992 shares of the company’s stock worth $412,000 after buying an additional 247 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Life360 by 82.3% during the 4th 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 bought a new stake in shares of Life360 in the 4th quarter valued at about $25,000. Corebridge Financial Inc. grew its position in shares of 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 last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Life360 during the third quarter worth about $98,000. 20.00% of the stock is owned by 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.