Life360 (NASDAQ:LIF) Director Brit Morin Sells 10,701 Shares

Key Points

• Life360 director Brit Morin sold 10,701 shares at an average price of $60, generating $642,060. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced her direct holdings by 34.68% to 20,157 shares.
• Life360 shares fell 3.9% to $61.45 during Wednesday trading, giving the company a market capitalization of approximately $4.98 billion. Institutional investors own about 20% of the stock.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $64.81, although ratings range from Strong Buy to Sell.

Life360, Inc. (NASDAQ:LIF - Get Free Report) Director Brit Morin sold 10,701 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $60.00, for a total transaction of $642,060.00. Following the sale, the director directly owned 20,157 shares of the company's stock, valued at $1,209,420. The trade was a 34.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brit Morin also recently made the following trade(s):

• On Monday, June 29th, Brit Morin sold 4,655 shares of Life360 stock. The shares were sold at an average price of $55.00, for a total transaction of $256,025.00.

Life360 Stock Down 3.9%

LIF stock traded down $2.52 during mid-day trading on Wednesday, hitting $61.45. 462,591 shares of the company were exchanged, compared to its average volume of 1,027,528. The firm has a fifty day simple moving average of $51.26 and a 200 day simple moving average of $48.29. The company has a market capitalization of $4.98 billion, a PE ratio of 35.52 and a beta of 2.35. Life360, Inc. has a twelve month low of $37.01 and a twelve month high of $112.54. The company has a current ratio of 5.37, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52.

Institutional Investors Weigh In On Life360

A number of hedge funds have recently added to or reduced their stakes in the stock. Strive Financial Group LLC acquired a new position in shares of Life360 during the fourth quarter valued at $26,000. MCF Advisors LLC bought a new stake in Life360 in the 4th quarter valued at about $32,000. NewEdge Advisors LLC acquired a new position in Life360 during the 3rd quarter valued at about $32,000. IFP Advisors Inc acquired a new position in Life360 during the 3rd quarter valued at about $47,000. Finally, Advisors Asset Management Inc. grew its position in Life360 by 136.6% in the 4th quarter. Advisors Asset Management Inc. now owns 899 shares of the company's stock worth $58,000 after purchasing an additional 519 shares during the last quarter. 20.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on LIF shares. Macquarie Infrastructure started coverage on Life360 in a report on Tuesday, April 28th. They set an "outperform" rating and a $32.20 target price on the stock. Citigroup raised their price objective on Life360 from $60.15 to $66.65 and gave the stock a "buy" rating in a research note on Monday, July 6th. DA Davidson boosted their target price on shares of Life360 from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Monday, June 22nd. Canaccord Genuity Group set a $72.00 target price on shares of Life360 in a report on Tuesday, May 12th. Finally, Weiss Ratings lowered shares of Life360 from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.81.

About Life360

Life360, Inc NASDAQ: LIF operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company's services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.

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