Life360 (NASDAQ:LIF) Shares Gap Down on Insider Selling

Shares of Life360, Inc. (NASDAQ:LIF - Get Free Report) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $41.40, but opened at $40.08. Life360 shares last traded at $39.54, with a volume of 26,873 shares traded.

Specifically, CFO Russell John Burke sold 3,104 shares of Life360 stock in a transaction on Monday, March 24th. The stock was sold at an average price of $39.35, for a total transaction of $122,142.40. Following the completion of the sale, the chief financial officer now directly owns 181,857 shares in the company, valued at approximately $7,156,072.95. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Lauren Antonoff sold 4,546 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $38.64, for a total transaction of $175,657.44. Following the transaction, the chief operating officer now directly owns 317,802 shares in the company, valued at approximately $12,279,869.28. This trade represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Remove Ads

Wall Street Analyst Weigh In

Several research analysts have commented on LIF shares. Canaccord Genuity Group raised their price objective on Life360 from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. UBS Group upgraded shares of Life360 from a "neutral" rating to a "buy" rating and increased their target price for the stock from $52.00 to $55.00 in a report on Friday, January 17th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $47.63.

Life360 Stock Down 0.8 %

The company has a fifty day moving average of $43.55 and a 200-day moving average of $42.95.

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 the consensus estimate of $0.18 by ($0.08). The firm had revenue of $115.53 million for the quarter, compared to analysts' expectations of $114.39 million. Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. Equities research analysts anticipate that Life360, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Life360

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in Life360 by 6.1% in 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. Millennium Management LLC lifted its position in Life360 by 9.2% during the fourth quarter. Millennium Management LLC now owns 1,114,922 shares of the company's stock worth $46,013,000 after buying an additional 94,077 shares in the last quarter. Franklin Resources Inc. boosted its stake in Life360 by 402.9% during the fourth quarter. Franklin Resources Inc. now owns 539,592 shares of the company's stock worth $22,269,000 after buying an additional 432,292 shares during the last quarter. Marshall Wace LLP grew its holdings in Life360 by 86.2% in the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company's stock valued at $16,975,000 after buying an additional 190,422 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of Life360 by 49.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 303,393 shares of the company's stock worth $12,521,000 after acquiring an additional 100,217 shares during the last quarter. 20.00% of the stock is owned by hedge funds and other 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.