Insider Selling: Life360 (NASDAQ:LIF) Director Sells $343,289.70 in Stock

Key Points

• Life360 director Charles Prober sold 7,930 shares for approximately $343,290 under a pre-arranged Rule 10b5-1 trading plan, reducing his stake by 6.73% to 109,930 shares.
• Life360 shares rose 1.4% to $42.14, but remain below their 50-day and 200-day moving averages. The company recently reported $0.06 in quarterly EPS, below estimates, while revenue exceeded forecasts.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $59.94, compared with the stock’s current price.

Life360, Inc. (NASDAQ:LIF - Get Free Report) Director Charles Prober sold 7,930 shares of the company's stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $43.29, for a total transaction of $343,289.70. Following the completion of the transaction, the director directly owned 109,930 shares in the company, valued at $4,758,869.70. The trade was a 6.73% 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 Trading Up 1.4%

NASDAQ LIF traded up $0.59 during trading on Thursday, hitting $42.14. The stock had a trading volume of 732,912 shares, compared to its average volume of 963,167. Life360, Inc. has a twelve month low of $37.01 and a twelve month high of $100.18. The firm has a 50 day moving average price of $44.43 and a 200 day moving average price of $46.26. The company has a market capitalization of $3.43 billion, a PE ratio of 24.64 and a beta of 2.27. The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51.

Life360 (NASDAQ:LIF - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). Life360 had a net margin of 25.73% and a return on equity of 5.66%. The firm had revenue of $158.96 million during the quarter, compared to analyst estimates of $156.68 million. As a group, equities research analysts forecast that Life360, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LIF. UBS Group dropped their price objective on Life360 from $64.00 to $60.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. DA Davidson restated a "neutral" rating and set a $40.00 price objective on shares of Life360 in a research report on Tuesday, September 29th. Bank of America upped their target price on shares of Life360 from $60.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Citigroup decreased their price objective on Life360 from $66.65 to $60.10 and set a "buy" rating on the stock in a report on Thursday, August 13th. Finally, Morgan Stanley set a $65.20 target price on shares of Life360 in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Life360 presently has a consensus rating of "Moderate Buy" and an average price target of $59.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Life360 in the second quarter valued at approximately $1,444,000. California State Teachers Retirement System grew its holdings in shares of Life360 by 23.5% in the 1st quarter. California State Teachers Retirement System now owns 86,635 shares of the company's stock valued at $3,536,000 after acquiring an additional 16,461 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Life360 in the second quarter valued at approximately $15,547,000. Greenspring Advisors LLC acquired a new position in Life360 during the second quarter worth $9,592,000. Finally, Jupiter Topco LLC bought a new stake in shares of Life360 in the 2nd quarter valued at about $1,954,000. Institutional investors own 20.00% of the company's stock.

Life360 Company Profile

Life360, Inc is a technology company that develops products designed to help families and groups stay connected, coordinate activities and improve personal safety. Its flagship Life360 mobile application provides location sharing, communication tools, driving-related features, emergency assistance and other services intended for family and community use.

The company also operates Tile, a brand of Bluetooth-enabled item-finding devices and related software that helps users locate keys, luggage, electronics and other belongings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.