Mark Goines Sells 30,000 Shares of Life360, Inc. (NASDAQ:LIF) Stock

Life360, Inc. (NASDAQ:LIF) Director Mark Goines sold 30,000 shares of Life360 stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $42.00, for a total value of $1,260,000.00. Following the completion of the sale, the director now directly owns 36,272 shares in the company, valued at $1,523,424. This represents a 45.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Life360 Trading Down 3.6 %

LIF stock opened at $40.71 on Wednesday. The firm has a 50 day moving average of $44.03 and a 200-day moving average of $42.76. Life360, Inc. has a 12-month low of $26.00 and a 12-month high of $52.76.

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

Institutional Investors Weigh In On Life360

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund acquired a new position in shares of Life360 during the 4th quarter worth approximately $25,000. Summit Investment Advisors Inc. raised its position in shares of Life360 by 82.3% during the 4th 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 last quarter. BNP Paribas Financial Markets acquired a new position in shares of Life360 during the 3rd quarter worth approximately $98,000. MetLife Investment Management LLC acquired a new position in shares of Life360 during the 3rd quarter worth approximately $139,000. Finally, KBC Group NV acquired a new position in shares of Life360 during the 4th quarter worth approximately $147,000. 20.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.