Insider Selling: Life360 (NASDAQ:LIF) Director Sells $2,044,000.00 in Stock

Key Points

• Life360 director Alex Haro sold 50,000 shares at an average price of $40.88, generating $2.044 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 4.72% to 1,010,303 shares.
• Life360 shares traded near $40.75, well below the company’s 12-month high of $112.54. The company recently reported quarterly EPS of $0.06, below the $0.08 consensus, while revenue of $158.96 million exceeded expectations.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $59.94, despite some target reductions. Institutional investors own approximately 20% of Life360’s outstanding stock.

Life360, Inc. (NASDAQ:LIF - Get Free Report) Director Alex Haro sold 50,000 shares of the company's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $40.88, for a total transaction of $2,044,000.00. Following the completion of the sale, the director owned 1,010,303 shares of the company's stock, valued at approximately $41,301,186.64. This trade represents a 4.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Life360 Stock Performance

Life360 stock traded down $0.23 during midday trading on Wednesday, hitting $40.75. 638,425 shares of the company's stock were exchanged, compared to its average volume of 996,470. Life360, Inc. has a 12-month low of $37.01 and a 12-month high of $112.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.46 and a current ratio of 5.60. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 23.83 and a beta of 2.24. The firm's 50 day simple moving average is $48.74 and its 200 day simple moving average is $46.33.

Life360 (NASDAQ:LIF - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). Life360 had a net margin of 25.73% and a return on equity of 5.66%. The business had revenue of $158.96 million during the quarter, compared to analysts' expectations of $156.68 million. Equities research analysts predict that Life360, Inc. will post 0.53 EPS for the current year.

Wall Street Analyst Weigh In

LIF has been the topic of several analyst reports. DA Davidson lowered their target price on Life360 from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 15th. UBS Group reduced their target price on shares of Life360 from $64.00 to $60.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Life360 from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, September 4th. Morgan Stanley set a $65.20 price target on shares of Life360 in a research note on Wednesday, August 12th. Finally, Citigroup reduced their price objective on shares of Life360 from $66.65 to $60.10 and set a "buy" rating for the company in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.94.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. MCF Advisors LLC purchased a new position in Life360 in the 4th quarter valued at approximately $32,000. GAMMA Investing LLC increased its position in shares of Life360 by 44.0% in the second quarter. GAMMA Investing LLC now owns 1,861 shares of the company's stock valued at $103,000 after buying an additional 569 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Life360 during the 1st quarter worth $76,000. Royal Bank of Canada boosted its position in shares of Life360 by 85.5% in the 1st quarter. Royal Bank of Canada now owns 2,059 shares of the company's stock worth $84,000 after buying an additional 949 shares in the last quarter. Finally, Nykredit A S purchased a new stake in shares of Life360 in the 2nd quarter worth about $126,000. Hedge funds and other institutional investors own 20.00% of the company's stock.

Life360 Company Profile

Life360, Inc is a technology company that develops location-based safety and coordination services for families, friends and other groups. Its primary product is the Life360 mobile application, which provides location sharing, private messaging, driving safety tools, crash detection, roadside assistance and other features designed to help users stay connected and respond to safety-related events.

The company also offers connected-device products through its Tile and Jiobit brands. Tile develops Bluetooth-enabled item trackers and related services that help users locate personal belongings, while Jiobit provides compact GPS tracking devices and services.

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