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 Tuesday . The stock had previously closed at $40.31, but opened at $41.50. Life360 shares last traded at $41.25, with a volume of 11,584 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Loop Capital upped their price target on shares of Life360 from $36.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Jefferies Financial Group started coverage on shares of Life360 in a report on Friday, August 9th. They issued a "buy" rating and a $43.00 price target on the stock. UBS Group raised their price objective on shares of Life360 from $35.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Stifel Nicolaus upped their target price on Life360 from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Finally, JMP Securities raised their price target on Life360 from $40.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $44.75.

Life360 Price Performance

The company has a 50 day simple moving average of $41.54.

Insider Buying and Selling

In other news, CEO Chris Hulls sold 556,569 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $41.02, for a total value of $22,830,460.38. Following the transaction, the chief executive officer now directly owns 952,696 shares in the company, valued at $39,079,589.92. This trade represents a 36.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Synge sold 33,617 shares of Life360 stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $37.04, for a total value of $1,245,173.68. Following the completion of the transaction, the director now directly owns 291,944 shares in the company, valued at $10,813,605.76. This represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 633,657 shares of company stock worth $25,503,241.

Institutional Investors Weigh In On Life360

Several institutional investors have recently bought and sold shares of the business. Emerald Advisers LLC purchased a new stake in shares of Life360 in the second quarter worth about $6,777,000. Millennium Management LLC purchased a new position in Life360 in the 2nd quarter worth approximately $11,861,000. Regal Partners Ltd acquired a new stake in Life360 in the second quarter valued at approximately $23,635,000. Ghisallo Capital Management LLC purchased a new stake in shares of Life360 during the second quarter valued at approximately $8,098,000. Finally, Ausbil Investment Management Ltd purchased a new stake in shares of Life360 during the third quarter valued at approximately $2,749,000.

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.