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

Life360, Inc. (NASDAQ:LIF - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $40.57, but opened at $42.67. Life360 shares last traded at $43.05, with a volume of 55,583 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on LIF. UBS Group raised 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. Canaccord Genuity Group lifted their price objective on shares of Life360 from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. JMP Securities increased their target price on shares of Life360 from $40.00 to $55.00 and gave the stock a "market outperform" rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus raised their price target on shares of Life360 from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $47.63.

Life360 Price Performance

The stock's fifty day moving average is $43.92 and its two-hundred day moving average is $39.83.

Insiders Place Their Bets

In related news, CFO Russell John Burke sold 3,104 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $43.97, for a total value of $136,482.88. Following the completion of the transaction, the chief financial officer now owns 158,066 shares in the company, valued at $6,950,162.02. This represents a 1.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark Goines sold 50,000 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $40.70, for a total transaction of $2,035,000.00. Following the transaction, the director now directly owns 76,272 shares in the company, valued at approximately $3,104,270.40. The trade was a 39.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 635,881 shares of company stock worth $26,117,045.

Institutional Investors Weigh In On Life360

A number of institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in shares of Life360 in the 2nd quarter worth $43,000. BNP Paribas Financial Markets bought a new stake in Life360 in the third quarter worth about $98,000. MetLife Investment Management LLC acquired a new stake in Life360 in the 3rd quarter valued at about $139,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Life360 during the 2nd quarter valued at about $192,000. Finally, SG Americas Securities LLC acquired a new position in shares of Life360 in the 3rd quarter worth approximately $246,000. 20.00% of the stock is currently owned by institutional investors and hedge funds.

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.