Life360 (NASDAQ:LIF) Sets New 52-Week High - Here's What Happened

Life360, Inc. (NASDAQ:LIF - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $41.61 and last traded at $41.60, with a volume of 35980 shares. The stock had previously closed at $40.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JMP Securities lifted their price target on shares of Life360 from $38.00 to $40.00 and gave the stock a "market outperform" rating in a report on Friday, August 9th. UBS Group lifted their price target on shares of Life360 from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. Canaccord Genuity Group assumed coverage on shares of Life360 in a report on Monday, June 17th. They issued a "buy" rating and a $40.00 price target on the stock. Jefferies Financial Group assumed 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. Finally, Canaccord Genuity Group raised shares of Life360 to a "strong-buy" rating in a report on Monday, June 17th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $39.75.

Life360 Stock Performance

The stock's 50 day moving average is $36.31.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. The firm had revenue of $84.86 million during the quarter, compared to analyst estimates of $85.00 million. Life360 had a negative net margin of 9.26% and a negative return on equity of 9.81%. Analysts expect that Life360, Inc. will post -0.29 EPS for the current year.

Insider Activity

In related news, Director Charles J. Prober sold 40,000 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $32.45, for a total value of $1,298,000.00. Following the completion of the transaction, the director now directly owns 106,742 shares in the company, valued at approximately $3,463,777.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Charles J. Prober sold 40,000 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $32.45, for a total value of $1,298,000.00. Following the completion of the transaction, the director now directly owns 106,742 shares in the company, valued at approximately $3,463,777.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Synge sold 33,617 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $37.04, for a total transaction of $1,245,173.68. Following the completion of the transaction, the director now owns 291,944 shares of the company's stock, valued at $10,813,605.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,088 shares of company stock worth $2,672,781 in the last three months.

Institutional Trading of Life360

Hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in Life360 during the second quarter valued at approximately $43,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Life360 in the 2nd quarter worth about $192,000. XY Capital Ltd bought a new stake in Life360 during the 2nd quarter valued at about $205,000. SG Americas Securities LLC bought a new stake in shares of Life360 in the 3rd quarter valued at about $246,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Life360 in the 2nd quarter worth approximately $405,000.

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.