Life360 (NASDAQ:LIF) Trading 8.2% Higher – Still a Buy?

Life360, Inc. (NASDAQ:LIF) shares were up 8.2% during trading on Friday . The company traded as high as $43.44 and last traded at $43.92. Approximately 22,521 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 220,218 shares. The stock had previously closed at $40.58.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group boosted their target price on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. UBS Group upgraded shares of Life360 from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $55.00 in a research report on Friday, January 17th. Finally, JMP Securities raised their target price on shares of Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $47.63.

Life360 Stock Up 11.4 %

The company’s 50 day simple moving average is $43.92 and its 200 day simple moving average is $42.40.

Life360 (NASDAQ:LIF) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. The business had revenue of $115.53 million for the quarter, compared to analyst estimates of $114.39 million. On average, equities research analysts forecast that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity at Life360

In other Life360 news, COO Lauren Antonoff sold 14,091 shares of Life360 stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $42.17, for a total value of $594,217.47. Following the sale, the chief operating officer now owns 293,769 shares of the company’s stock, valued at $12,388,238.73. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Russell John Burke sold 3,104 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $41.41, for a total value of $128,536.64. Following the completion of the sale, the chief financial officer now owns 154,962 shares in the company, valued at approximately $6,416,976.42. This trade represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,715 shares of company stock worth $1,411,935.

Institutional Trading of Life360

A number of hedge funds and other institutional investors have recently modified their holdings of LIF. WealthPlan Investment Management LLC grew its position in shares of Life360 by 2.5% in the 4th quarter. WealthPlan Investment Management LLC now owns 9,992 shares of the company’s stock valued at $412,000 after acquiring an additional 247 shares during the period. Summit Investment Advisors Inc. grew its holdings in Life360 by 82.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock worth $44,000 after purchasing an additional 484 shares during the period. New York State Common Retirement Fund acquired a new position in Life360 during the fourth quarter worth approximately $25,000. Emerald Mutual Fund Advisers Trust raised its stake in Life360 by 0.4% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 170,182 shares of the company’s stock valued at $6,697,000 after buying an additional 736 shares during the period. Finally, Corebridge Financial Inc. lifted its position in shares of Life360 by 64.0% in the fourth quarter. Corebridge Financial Inc. now owns 5,092 shares of the company’s stock valued at $210,000 after buying an additional 1,987 shares during the last quarter. Institutional investors and hedge funds own 20.00% of the company’s stock.

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.