Life360, Inc. (NASDAQ:LIF) Director Sells $2,909,285.76 in Stock

Life360, Inc. (NASDAQ:LIF - Get Free Report) Director Brit Morin sold 47,584 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $61.14, for a total value of $2,909,285.76. Following the transaction, the director now owns 26,442 shares in the company, valued at $1,616,663.88. The trade was a 64.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Life360 Stock Down 1.1%

NASDAQ:LIF traded down $0.70 during mid-day trading on Friday, hitting $61.97. 1,249,939 shares of the stock traded hands, compared to its average volume of 461,634. The business's 50-day moving average price is $52.67 and its 200 day moving average price is $46.01. The company has a market cap of $4.74 billion and a PE ratio of 688.56. Life360, Inc. has a 12-month low of $28.94 and a 12-month high of $65.79.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.09. The firm had revenue of $103.62 million during the quarter, compared to analyst estimates of $101.48 million. Life360 had a net margin of 2.42% and a return on equity of 4.05%. Analysts anticipate that Life360, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Life360

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its position in shares of Life360 by 83.6% during the 4th quarter. Rhumbline Advisers now owns 12,651 shares of the company's stock valued at $522,000 after acquiring an additional 5,762 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Life360 in the fourth quarter valued at approximately $2,083,000. New York State Common Retirement Fund purchased a new stake in Life360 in the fourth quarter valued at approximately $25,000. Ieq Capital LLC bought a new stake in Life360 during the fourth quarter valued at approximately $4,340,000. Finally, Bank of New York Mellon Corp grew its stake in Life360 by 1,007.8% in the 4th quarter. Bank of New York Mellon Corp now owns 130,779 shares of the company's stock worth $5,397,000 after buying an additional 118,974 shares in the last quarter. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on LIF. JMP Securities upped their price objective on shares of Life360 from $55.00 to $62.00 and gave the stock a "market outperform" rating in a report on Monday. Loop Capital upped their price objective on Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Citigroup restated an "outperform" rating on shares of Life360 in a research note on Monday. UBS Group upped their price objective on shares of Life360 from $57.00 to $71.00 and gave the company a "buy" rating in a report on Monday. Finally, Canaccord Genuity Group increased their target price on shares of Life360 from $58.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $58.67.

About Life360

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.