Life360 (NASDAQ:LIF) Reaches New 12-Month High - Here's What Happened

Key Points

• Life360's (NASDAQ:LIF) stock hit a new 52-week high of **$78.45** during trading, closing at **$77.16** with a volume of **30,345 shares** traded.
• Numerous analysts have increased their price targets for Life360, with **Canaccord Genuity** setting a target of **$86.00**, indicating strong market confidence in the company.
• The company reported earnings of **$0.05** per share, surpassing estimates, and generated **$103.62 million** in revenue for the last quarter, reflecting solid financial performance.

Life360, Inc. (NASDAQ:LIF - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $78.45 and last traded at $77.16, with a volume of 30345 shares trading hands. The stock had previously closed at $77.75.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Life360 from $75.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, July 28th. UBS Group raised their target price on shares of Life360 from $57.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Loop Capital increased their target price on Life360 from $52.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Stifel Nicolaus raised their price target on shares of Life360 from $48.00 to $87.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, JMP Securities boosted their price objective on shares of Life360 from $55.00 to $62.00 and gave the company a "market outperform" rating in a research report on Monday, June 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Life360 has an average rating of "Moderate Buy" and an average target price of $75.67.

Life360 Stock Down 0.1%

The stock has a market cap of $5.64 billion, a PE ratio of 819.33 and a beta of 3.46. The firm's fifty day moving average price is $67.73 and its 200 day moving average price is $52.61.

Life360 (NASDAQ:LIF - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.06. Life360 had a return on equity of 4.05% and a net margin of 2.42%. As a group, analysts anticipate that Life360, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity at Life360

In other news, CFO Russell John Burke sold 3,104 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $75.87, for a total value of $235,500.48. Following the sale, the chief financial officer directly owned 196,418 shares in the company, valued at $14,902,233.66. The trade was a 1.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Susan L. Stick sold 500 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $75.51, for a total transaction of $37,755.00. Following the completion of the transaction, the general counsel directly owned 105,422 shares of the company's stock, valued at approximately $7,960,415.22. The trade was a 0.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,793 shares of company stock valued at $7,156,984 over the last quarter. 8.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Life360

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LIF. Vanguard Group Inc. increased its stake 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 acquiring an additional 5,540,302 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Life360 by 320.0% in the 1st quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company's stock valued at $21,087,000 after purchasing an additional 418,493 shares in the last quarter. Marshall Wace LLP grew its stake in Life360 by 86.2% in the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company's stock valued at $16,975,000 after acquiring an additional 190,422 shares during the period. Citadel Advisors LLC raised its position in shares of Life360 by 1,233.3% during the 4th 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 during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Life360 by 2,245.1% in the first quarter. Victory Capital Management Inc. now owns 189,645 shares of the company's stock worth $7,280,000 after acquiring an additional 181,558 shares during the last quarter. Institutional investors 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.