Life360 (NASDAQ:LIF) Sees Unusually-High Trading Volume on Analyst Upgrade

Life360, Inc. (NASDAQ:LIF - Get Free Report) saw an uptick in trading volume on Friday after JMP Securities raised their price target on the stock from $40.00 to $55.00. JMP Securities currently has a market outperform rating on the stock. 1,676,323 shares were traded during mid-day trading, an increase of 534% from the previous session's volume of 264,531 shares.The stock last traded at $41.34 and had previously closed at $43.88.

Several other equities analysts have also recently issued reports on LIF. Jefferies Financial Group assumed coverage on Life360 in a research report on Friday, August 9th. They set a "buy" rating and a $43.00 target price on the stock. UBS Group boosted their price target on Life360 from $35.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their price objective on Life360 from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Finally, Loop Capital upped their target price on Life360 from $36.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. One 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 has a consensus rating of "Buy" and a consensus price target of $44.75.

Insiders Place Their Bets

In related news, Director Charles J. Prober sold 40,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $32.45, for a total value of $1,298,000.00. Following the completion of the transaction, the director now owns 106,742 shares in the company, valued at $3,463,777.90. This represents a 27.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Chris Hulls sold 556,569 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $41.02, for a total value of $22,830,460.38. Following the sale, the chief executive officer now directly owns 952,696 shares in the company, valued at approximately $39,079,589.92. The trade was a 36.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 633,657 shares of company stock valued at $25,503,241 over the last quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LIF. Point72 DIFC Ltd bought a new position in Life360 during the second quarter worth $43,000. BNP Paribas Financial Markets acquired a new position in Life360 in the 3rd quarter valued at approximately $98,000. MetLife Investment Management LLC bought a new stake in shares of Life360 in the 3rd quarter worth approximately $139,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Life360 during the 2nd quarter worth approximately $192,000. Finally, XY Capital Ltd acquired a new stake in shares of Life360 during the 2nd quarter worth approximately $205,000.

Life360 Stock Down 4.4 %

The firm's 50-day moving average is $41.15.

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.