Brokerages Set Life360, Inc. (NASDAQ:LIF) Price Target at $47.63

Life360, Inc. (NASDAQ:LIF - Get Free Report) has received an average recommendation of "Buy" from the eight research firms that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $47.63.

A number of equities analysts recently commented on the stock. UBS Group raised shares of Life360 from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $52.00 to $55.00 in a research note on Friday, January 17th. Canaccord Genuity Group increased their price objective on shares of Life360 from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd.

Life360 Stock Up 2.9 %

Shares of NASDAQ LIF traded up $1.15 during midday trading on Friday, reaching $41.40. 1,696,496 shares of the stock traded hands, compared to its average volume of 352,941. Life360 has a one year low of $26.00 and a one year high of $52.77. The company's 50 day moving average is $43.66 and its 200 day moving average is $42.87.

Life360 (NASDAQ:LIF - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.10 EPS 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 for the quarter, compared to the consensus estimate of $114.39 million. As a group, equities analysts predict that Life360 will post -0.17 EPS for the current fiscal year.

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Insiders Place Their Bets

In related news, Director Charles J. Prober sold 50,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $41.52, for a total transaction of $2,076,000.00. Following the transaction, the director now directly owns 102,742 shares in the company, valued at approximately $4,265,847.84. The trade was a 32.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Susan L. Stick sold 2,822 shares of Life360 stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $42.08, for a total value of $118,749.76. Following the transaction, the general counsel now owns 86,752 shares in the company, valued at approximately $3,650,524.16. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,039 shares of company stock worth $6,391,012.

Institutional Investors Weigh In On Life360

A number of institutional investors have recently made changes to their positions in the stock. Hodges Capital Management Inc. acquired a new position in Life360 during the 3rd quarter worth $3,876,000. FMR LLC increased its stake in Life360 by 6.1% in the 3rd quarter. FMR LLC now owns 1,520,135 shares of the company's stock valued at $59,817,000 after buying an additional 86,917 shares during the period. State Street Corp acquired a new stake in Life360 in the third quarter valued at about $2,393,000. Cherrydale Wealth Management LLC acquired a new stake in Life360 in the fourth quarter valued at $340,000. Finally, JPMorgan Chase & Co. boosted its holdings in Life360 by 295.6% during the third quarter. JPMorgan Chase & Co. now owns 13,054 shares of the company's stock worth $514,000 after buying an additional 9,754 shares in the last quarter. 20.00% of the stock is currently owned by institutional investors and hedge funds.

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.