Life360 (NASDAQ:LIF) Sets New 52-Week High - Time to Buy?

Life360, Inc. (NASDAQ:LIF - Get Free Report)'s stock price reached a new 52-week high on Saturday . The stock traded as high as $65.19 and last traded at $64.13, with a volume of 3365718 shares changing hands. The stock had previously closed at $63.04.

Analysts Set New Price Targets

LIF has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of Life360 from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Loop Capital upped their price target on shares of Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Canaccord Genuity Group raised their price objective on shares of Life360 from $58.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus dropped their target price on Life360 from $52.00 to $48.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Life360 has a consensus rating of "Buy" and an average target price of $51.00.

Life360 Stock Up 1.6%

The company's 50-day moving average is $46.55 and its 200 day moving average is $44.66. The company has a market cap of $4.90 billion and a price-to-earnings ratio of 711.22.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly 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. The firm had revenue of $103.62 million for the quarter, compared to analysts' expectations of $101.48 million. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. Analysts predict that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Susan L. Stick sold 2,822 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $42.08, for a total transaction of $118,749.76. Following the sale, the general counsel now directly owns 86,752 shares of the company's stock, valued at $3,650,524.16. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Philip Coghlan sold 3,125 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $61.03, for a total value of $190,718.75. Following the sale, the director now directly owns 29,778 shares in the company, valued at $1,817,351.34. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,961 shares of company stock worth $5,106,488. 8.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Life360

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

Life360 Company Profile

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.