Short Interest in Life360, Inc. (NASDAQ:LIF) Rises By 73.3%

Life360, Inc. (NASDAQ:LIF) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 1,090,000 shares, a growth of 73.3% from the February 28th total of 628,800 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 454,900 shares, the days-to-cover ratio is presently 2.4 days.

Life360 Trading Down 0.8 %

Shares of NASDAQ LIF opened at $38.63 on Monday. Life360 has a 12-month low of $26.00 and a 12-month high of $52.77. The stock has a 50 day simple moving average of $43.55 and a 200-day simple moving average of $43.03.

Life360 (NASDAQ:LIF) last announced 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 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. As a group, equities analysts forecast that Life360 will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group raised shares of Life360 from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $55.00 in a research report on Friday, January 17th. Canaccord Genuity Group increased their price target on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $47.63.

Insider Transactions at Life360

In related news, Director Charles J. Prober sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $41.52, for a total transaction of $2,076,000.00. Following the sale, the director now directly owns 102,742 shares of the company’s stock, valued at approximately $4,265,847.84. This represents a 32.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Susan L. Stick sold 2,822 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $42.08, for a total value of $118,749.76. Following the transaction, the general counsel now owns 86,752 shares in the company, valued at $3,650,524.16. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,189 shares of company stock valued at $6,708,942.

Institutional Trading of Life360

Several institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in Life360 by 14,425.5% during the fourth quarter. California State Teachers Retirement System now owns 61,443 shares of the company’s stock valued at $2,536,000 after purchasing an additional 61,020 shares during the last quarter. JT Stratford LLC bought a new stake in shares of Life360 during the 4th quarter worth $231,000. Monograph Wealth Advisors LLC grew its holdings in shares of Life360 by 56.1% in the 4th quarter. Monograph Wealth Advisors LLC now owns 101,234 shares of the company’s stock worth $4,178,000 after acquiring an additional 36,400 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Life360 during the fourth quarter worth $5,090,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Life360 during the fourth quarter valued at $1,902,000. 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.