Life360 (NASDAQ:LIF) Stock Price Down 5.4% - Should You Sell?

Life360, Inc. (NASDAQ:LIF - Get Free Report) dropped 5.4% during trading on Friday . The stock traded as low as $38.70 and last traded at $39.27. Approximately 205,304 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 332,896 shares. The stock had previously closed at $41.49.

Wall Street Analyst Weigh In

A number of brokerages have commented on LIF. UBS Group upgraded Life360 from a "neutral" rating to a "buy" rating and lifted their target price for the company from $52.00 to $55.00 in a research note on Friday, January 17th. Canaccord Genuity Group upped their price objective on Life360 from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Life360 currently has an average rating of "Buy" and an average price target of $47.63.

Life360 Price Performance

The business has a fifty day moving average of $43.66 and a 200-day moving average of $42.87.

Life360 (NASDAQ:LIF - Get Free Report) last issued its quarterly 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). The business had revenue of $115.53 million for the quarter, compared to analyst estimates of $114.39 million. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. On average, analysts anticipate that Life360, Inc. will post -0.17 earnings per share for the current fiscal year.

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Insider Activity

In related news, CFO Russell John Burke sold 3,104 shares of the business's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $42.74, for a total value of $132,664.96. Following the sale, the chief financial officer now directly owns 151,858 shares in the company, valued at $6,490,410.92. The trade was a 2.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles J. Prober sold 50,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 102,742 shares of the company's stock, valued at approximately $4,265,847.84. This represents a 32.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 151,039 shares of company stock worth $6,391,012.

Institutional Investors Weigh In On Life360

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

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.