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)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $78.45 and last traded at $77.16, with a volume of 30345 shares traded. The stock had previously closed at $77.75.

Wall Street Analysts Forecast Growth

LIF has been the subject of a number of research reports. Loop Capital boosted their price target on shares of Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Canaccord Genuity Group upped their target price on shares of Life360 from $75.00 to $86.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Stifel Nicolaus upped their target price on shares of Life360 from $48.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Citigroup began coverage on shares of Life360 in a research report on Thursday, July 31st. They set a "buy" rating and a $90.00 target price on the stock. Finally, JMP Securities upped their target price on shares of Life360 from $55.00 to $62.00 and gave the stock a "market outperform" rating in a research report on Monday, June 16th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.00.

Life360 Price Performance

The stock has a market cap of $5.71 billion, a P/E ratio of 830.62 and a beta of 3.46. The company has a fifty day moving average of $67.29 and a 200 day moving average of $52.10.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.09. The firm had revenue of $103.62 million for 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%. As a group, analysts anticipate that Life360, Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling at Life360

In other news, General Counsel Susan L. Stick sold 500 shares of the firm's 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. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Lauren Antonoff sold 4,546 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $75.69, for a total value of $344,086.74. Following the completion of the sale, the chief operating officer owned 307,778 shares of the company's stock, valued at approximately $23,295,716.82. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,293 shares of company stock worth $7,180,429 in the last quarter. 8.00% of the stock is owned by corporate insiders.

Institutional Trading of Life360

Institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Life360 by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company's stock valued at $237,000 after purchasing an additional 378 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Life360 by 82.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company's stock worth $44,000 after purchasing an additional 484 shares during the last quarter. WealthPlan Investment Management LLC raised its holdings in Life360 by 5.6% during the 1st quarter. WealthPlan Investment Management LLC now owns 10,550 shares of the company's stock worth $405,000 after purchasing an additional 558 shares during the last quarter. Keystone Financial Group Inc. bought a new position in Life360 during the 2nd quarter worth approximately $62,000. Finally, KLP Kapitalforvaltning AS grew its position in Life360 by 11.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 15,100 shares of the company's stock valued at $985,000 after purchasing an additional 1,600 shares during the period. 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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