Life360 (NASDAQ:LIF) Shares Down 5.6% Following Insider Selling

Life360, Inc. (NASDAQ:LIF) shares were down 5.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $39.61 and last traded at $39.62. Approximately 18,913 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 266,439 shares. The stock had previously closed at $41.95.

Specifically, CEO Chris Hulls sold 556,569 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $41.02, for a total value of $22,830,460.38. Following the completion of the sale, the chief executive officer now owns 952,696 shares of the company’s stock, valued at approximately $39,079,589.92. The trade was a 36.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

A number of brokerages have weighed in on LIF. UBS Group increased their target price on shares of Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Jefferies Financial Group started coverage on Life360 in a research report on Friday, August 9th. They set a “buy” rating and a $43.00 price target for the company. Loop Capital increased their price objective on shares of Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Stifel Nicolaus raised their target price on Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, JMP Securities upped their price target on shares of Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $44.75.

Life360 Stock Down 5.6 %

The stock has a 50-day simple moving average of $41.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LIF. Point72 DIFC Ltd acquired a new stake in shares of Life360 in the second quarter valued at $43,000. BNP Paribas Financial Markets acquired a new stake in Life360 in the third quarter worth about $98,000. MetLife Investment Management LLC acquired a new position in shares of Life360 during the 3rd quarter worth about $139,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Life360 during the 2nd quarter worth about $192,000. Finally, SG Americas Securities LLC acquired a new position in shares of Life360 during the 3rd quarter worth about $246,000.

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.