Insider Selling: Life360 (NASDAQ:LIF) Director Sells 7,930 Shares of Stock

Key Points

• Life360 director Charles Prober sold 7,930 shares at an average price of $42.12, generating $334,011.60. The transaction, conducted under a Rule 10b5-1 plan, reduced his direct holdings by 6.73% to 109,930 shares.
• Life360 shares fell 3.5% to $40.71, near the lower end of their 52-week range. The company’s latest quarterly earnings missed EPS estimates, although revenue exceeded analyst expectations.
• Wall Street maintains a “Moderate Buy” consensus with an average price target of $59.94, despite some analysts recently lowering their targets.

Life360, Inc. (NASDAQ:LIF - Get Free Report) Director Charles Prober sold 7,930 shares of the business's stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $42.12, for a total value of $334,011.60. Following the completion of the sale, the director directly owned 109,930 shares in the company, valued at approximately $4,630,251.60. The trade was a 6.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Life360 Trading Down 3.5%

Shares of LIF traded down $1.47 during midday trading on Wednesday, hitting $40.71. 676,899 shares of the stock were exchanged, compared to its average volume of 564,716. Life360, Inc. has a 52-week low of $37.01 and a 52-week high of $112.54. The stock has a fifty day simple moving average of $50.05 and a 200 day simple moving average of $46.64. The firm has a market cap of $3.32 billion, a P/E ratio of 120.51 and a beta of 2.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.46 and a current ratio of 5.60.

Life360 (NASDAQ:LIF - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.06 earnings per share 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 firm had revenue of $158.96 million during the quarter, compared to analyst estimates of $156.68 million. On average, research analysts anticipate that Life360, Inc. will post 0.53 EPS for the current fiscal year.

Institutional Trading of Life360

A number of large investors have recently made changes to their positions in the company. Swiss Life Asset Management Ltd boosted its stake in Life360 by 8.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 3,617 shares of the company's stock valued at $232,000 after acquiring an additional 273 shares in the last quarter. Eventide Asset Management LLC increased its position in shares of Life360 by 6.1% during the fourth quarter. Eventide Asset Management LLC now owns 8,319 shares of the company's stock worth $539,000 after purchasing an additional 478 shares in the last quarter. MCF Advisors LLC acquired a new stake in shares of Life360 during the fourth quarter worth about $32,000. GAMMA Investing LLC increased its position in shares of Life360 by 44.0% during the second quarter. GAMMA Investing LLC now owns 1,861 shares of the company's stock worth $103,000 after purchasing an additional 569 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Life360 by 2.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 25,300 shares of the company's stock valued at $1,401,000 after purchasing an additional 600 shares during the last quarter. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LIF has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Life360 from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, September 4th. DA Davidson lowered their price objective on shares of Life360 from $47.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday. Morgan Stanley set a $65.20 price objective on shares of Life360 in a report on Wednesday, August 12th. UBS Group cut their target price on shares of Life360 from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. Finally, Bank of America increased their target price on shares of Life360 from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.94.

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.

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.