Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE) President Lingke Wang Sells 118,333 Shares

Key Points

• President Lingke Wang sold 118,333 shares of Ethos Technologies (NASDAQ: LIFE) at an average price of $38.96, generating about $4.61 million. The Rule 10b5-1 transaction reduced his direct holdings by 7.15% to 1.54 million shares.
• LIFE shares traded at $36.00, with the company valued at approximately $2.30 billion. The stock has risen sharply from its 12-month low of $9.45 but remains below its $42.55 high.
• Analysts maintain a generally positive view, with six Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $32.29. The company recently reported quarterly EPS of $0.53, beating estimates, while revenue increased 113.5% year over year.

Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) President Lingke Wang sold 118,333 shares of Ethos Technologies Inc. Class A Common Stock stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $38.96, for a total value of $4,610,253.68. Following the completion of the transaction, the president directly owned 1,537,543 shares of the company's stock, valued at approximately $59,902,675.28. This represents a 7.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lingke Wang also recently made the following trade(s):

• On Thursday, August 20th, Lingke Wang sold 118,333 shares of Ethos Technologies Inc. Class A Common Stock stock. The shares were sold at an average price of $33.29, for a total transaction of $3,939,305.57.
• On Monday, August 17th, Lingke Wang sold 22,623 shares of Ethos Technologies Inc. Class A Common Stock stock. The shares were sold at an average price of $34.28, for a total transaction of $775,516.44.

Ethos Technologies Inc. Class A Common Stock Price Performance

Ethos Technologies Inc. Class A Common Stock stock traded down $0.40 during trading hours on Friday, hitting $36.00. The stock had a trading volume of 2,684,900 shares, compared to its average volume of 784,761. The stock has a 50-day simple moving average of $30.37. The company has a market cap of $2.30 billion and a PE ratio of -12.63. Ethos Technologies Inc. Class A Common Stock has a 12-month low of $9.45 and a 12-month high of $42.55.

Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.34. The firm had revenue of $189.56 million for the quarter. The firm's quarterly revenue was up 113.5% on a year-over-year basis. As a group, equities analysts forecast that Ethos Technologies Inc. Class A Common Stock will post -2.04 earnings per share for the current fiscal year.

Institutional Trading of Ethos Technologies Inc. Class A Common Stock

An institutional investor recently bought a new position in Ethos Technologies Inc. Class A Common Stock stock. The Manufacturers Life Insurance Company acquired a new stake in shares of Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 341,279 shares of the company's stock, valued at approximately $6,191,000. The Manufacturers Life Insurance Company owned about 0.54% of Ethos Technologies Inc. Class A Common Stock as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 61.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LIFE shares. Wall Street Zen upgraded Ethos Technologies Inc. Class A Common Stock from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lifted their price objective on Ethos Technologies Inc. Class A Common Stock from $21.50 to $23.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Robert W. Baird boosted their target price on Ethos Technologies Inc. Class A Common Stock from $26.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. Barclays upped their target price on shares of Ethos Technologies Inc. Class A Common Stock from $27.00 to $37.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ethos Technologies Inc. Class A Common Stock in a report on Friday, August 21st. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $32.29.

About Ethos Technologies Inc. Class A Common Stock

Ethos Technologies Inc is a special purpose acquisition company (SPAC) whose Class A common stock trades on the Nasdaq Stock Market under the symbol LIFE. The company was formed to identify and complete a business combination, such as a merger, share exchange, asset acquisition, or similar transaction, with an operating business.

Unlike an operating company, Ethos Technologies does not currently appear to have established products, services, or significant commercial operations of its own.

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