Life360 (NASDAQ:LIF) Shares Gap Down - Here's Why

Life360, Inc. (NASDAQ:LIF - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $46.18, but opened at $43.97. Life360 shares last traded at $44.12, with a volume of 15,997 shares.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Life360 from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Canaccord Genuity Group raised their target price on shares of Life360 from $54.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. UBS Group raised shares of Life360 from a "neutral" rating to a "buy" rating and upped their price target for the stock from $52.00 to $55.00 in a research report on Friday, January 17th. Finally, JMP Securities boosted their price objective on shares of Life360 from $40.00 to $55.00 and gave the company a "market outperform" rating in a research note on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $47.63.

Life360 Trading Up 1.4 %

The business's 50-day moving average is $44.21 and its two-hundred day moving average is $41.26.

Insiders Place Their Bets

In other news, Director John Philip Coghlan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.50, for a total transaction of $415,000.00. Following the completion of the transaction, the director now directly owns 41,628 shares in the company, valued at approximately $1,727,562. This represents a 19.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of Life360 stock in a transaction on Friday, January 24th. The stock was sold at an average price of $46.78, for a total transaction of $145,205.12. Following the completion of the sale, the chief financial officer now owns 148,754 shares of the company's stock, valued at approximately $6,958,712.12. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 638,985 shares of company stock worth $26,262,250 in the last 90 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LIF. Hodges Capital Management Inc. acquired a new position in Life360 in the third quarter worth about $3,876,000. FMR LLC increased its holdings in shares of 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 acquiring an additional 86,917 shares during the last quarter. State Street Corp acquired a new stake in shares of Life360 during the 3rd quarter valued at approximately $2,393,000. Cherrydale Wealth Management LLC bought a new position in Life360 during the fourth quarter worth $340,000. Finally, JPMorgan Chase & Co. boosted its holdings 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 owned by institutional investors and hedge funds.

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.