Life360 (NASDAQ:LIF) Shares Gap Down - What's Next?

Life360, Inc. (NASDAQ:LIF - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $45.20, but opened at $43.43. Life360 shares last traded at $43.61, with a volume of 32,865 shares.

Wall Street Analyst Weigh In

LIF has been the topic of several research analyst reports. Canaccord Genuity Group boosted their target price on Life360 from $54.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. JMP Securities upped their target price on shares of Life360 from $40.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 14th. Finally, UBS Group raised Life360 from a "neutral" rating to a "buy" rating and raised their price objective for the company from $52.00 to $55.00 in a research report on Friday, January 17th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $47.63.

Life360 Price Performance

The stock's 50 day moving average price is $44.01 and its 200-day moving average price is $42.64.

Life360 (NASDAQ:LIF - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). The firm had revenue of $115.53 million during the quarter, compared to the consensus estimate of $114.39 million. Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. As a group, research analysts anticipate that Life360, Inc. will post -0.17 EPS for the current year.

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Insider Buying and Selling

In other Life360 news, CFO Russell John Burke sold 3,104 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $43.60, for a total transaction of $135,334.40. Following the sale, the chief financial officer now directly owns 142,546 shares in the company, valued at $6,215,005.60. This represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Lauren Antonoff sold 14,091 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $42.17, for a total value of $594,217.47. Following the completion of the sale, the chief operating officer now owns 293,769 shares of the company's stock, valued at approximately $12,388,238.73. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,715 shares of company stock worth $1,411,935.

Hedge Funds Weigh In On Life360

Several hedge funds have recently added to or reduced their stakes in LIF. Hodges Capital Management Inc. purchased a new position in shares of Life360 during the third quarter valued at approximately $3,876,000. FMR LLC boosted its holdings in Life360 by 6.1% during the 3rd quarter. FMR LLC now owns 1,520,135 shares of the company's stock valued at $59,817,000 after acquiring an additional 86,917 shares during the period. State Street Corp purchased a new position in Life360 during the 3rd quarter valued at $2,393,000. Cherrydale Wealth Management LLC bought a new position in Life360 in the 4th quarter valued at $340,000. Finally, JPMorgan Chase & Co. increased its stake in Life360 by 295.6% in the third quarter. JPMorgan Chase & Co. now owns 13,054 shares of the company's stock worth $514,000 after purchasing an additional 9,754 shares during the period. 20.00% of the stock is currently 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.