Life360 (NASDAQ:LIF) Hits New 12-Month High - Should You Buy?

Key Points

• Life360's share price reached a new **52-week high** of $77.38 during trading, indicating strong market performance with a close at $76.12.
• Several brokerages have recently updated their ratings for Life360, with **UBS Group** setting a new price target of **$71.00**, reflecting a positive outlook from analysts.
• Insider activity shows significant selling, with directors selling shares totaling **over $7 million** in the last three months, which may raise concerns about internal confidence levels.

Life360, Inc. (NASDAQ:LIF - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $77.38 and last traded at $76.12, with a volume of 18085 shares traded. The stock had previously closed at $76.81.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LIF. UBS Group upped their price objective on shares of Life360 from $57.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Canaccord Genuity Group set a $75.00 target price on shares of Life360 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. JMP Securities increased their target price on shares of Life360 from $55.00 to $62.00 and gave the company a "market outperform" rating in a research note on Monday, June 16th. Wall Street Zen cut shares of Life360 from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Citigroup reissued an "outperform" rating on shares of Life360 in a research report on Monday, June 16th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

Life360 Stock Down 1.0%

The business's fifty day moving average is $64.91 and its 200 day moving average is $50.30. The firm has a market capitalization of $5.82 billion and a price-to-earnings ratio of 844.94.

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

Insider Activity at Life360

In other news, Director John Philip Coghlan sold 3,125 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $43.30, for a total value of $135,312.50. Following the completion of the sale, the director directly owned 32,903 shares of the company's stock, valued at approximately $1,424,699.90. This trade represents a 8.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles J. Prober sold 7,942 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $61.63, for a total transaction of $489,465.46. Following the completion of the sale, the director directly owned 105,456 shares of the company's stock, valued at approximately $6,499,253.28. This represents a 7.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,793 shares of company stock valued at $7,048,111 in the last three months.

Hedge Funds Weigh In On Life360

Several hedge funds have recently modified their holdings of LIF. Vanguard Group Inc. grew its holdings in shares of Life360 by 3,865.6% in the first quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company's stock worth $218,194,000 after purchasing an additional 5,540,302 shares during the last quarter. Franklin Resources Inc. lifted its stake in Life360 by 402.9% in the fourth quarter. Franklin Resources Inc. now owns 539,592 shares of the company's stock worth $22,269,000 after acquiring an additional 432,292 shares during the period. Bank of New York Mellon Corp lifted its stake in Life360 by 320.0% in the first quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company's stock worth $21,087,000 after acquiring an additional 418,493 shares during the period. Marshall Wace LLP lifted its stake in Life360 by 86.2% in the fourth quarter. Marshall Wace LLP now owns 411,326 shares of the company's stock worth $16,975,000 after acquiring an additional 190,422 shares during the period. Finally, Citadel Advisors LLC lifted its stake in Life360 by 1,233.3% in the fourth quarter. Citadel Advisors LLC now owns 200,781 shares of the company's stock worth $8,286,000 after acquiring an additional 185,722 shares during the period. Hedge funds and other institutional investors own 20.00% of the company's stock.

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.

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