Life360 (NASDAQ:LIF) Hits New 12-Month High – Here’s Why

Life360, Inc. (NASDAQ:LIF) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $48.99 and last traded at $48.87, with a volume of 356718 shares trading hands. The stock had previously closed at $46.33.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Jefferies Financial Group started coverage on Life360 in a research note on Friday, August 9th. They set a “buy” rating and a $43.00 price target for the company. Stifel Nicolaus raised their price objective on Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, October 28th. 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 report on Thursday, November 7th. Loop Capital raised their price target on shares of Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. 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 report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $44.75.

Life360 Stock Performance

The business has a 50-day moving average price of $42.47.

Insider Buying and Selling

In other news, Director Mark Goines sold 10,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $43.89, for a total value of $438,900.00. Following the completion of the transaction, the director now owns 66,272 shares in the company, valued at $2,908,678.08. The trade was a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Synge sold 3,471 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $37.34, for a total value of $129,607.14. Following the completion of the transaction, the director now directly owns 67,102 shares of the company’s stock, valued at approximately $2,505,588.68. This trade represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 703,657 shares of company stock worth $28,392,141.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. purchased a new stake in shares of Life360 in the third quarter valued at about $4,689,000. Barclays PLC acquired a new stake in Life360 during the third quarter worth approximately $320,000. First Dallas Securities Inc. purchased a new position in shares of Life360 in the 3rd quarter valued at $273,000. Geode Capital Management LLC acquired a new position in Life360 during the 3rd quarter worth approximately $5,134,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Life360 during the 3rd quarter worth approximately $1,653,000.

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.