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

Life360, Inc. (NASDAQ:LIF - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The company traded as high as $66.00 and last traded at $65.04, with a volume of 233 shares traded. The stock had previously closed at $65.04.

Wall Street Analysts Forecast Growth

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

Life360 Price Performance

The stock has a market cap of $5.01 billion and a PE ratio of 722.67. The company has a 50-day simple moving average of $47.09 and a 200-day simple moving average of $44.83.

Life360 (NASDAQ:LIF - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.09. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. The business had revenue of $103.62 million during the quarter, compared to the consensus estimate of $101.48 million. On average, equities analysts expect that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Russell John Burke sold 3,104 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $42.51, for a total value of $131,951.04. Following the completion of the transaction, the chief financial officer now directly owns 184,961 shares in the company, valued at $7,862,692.11. This trade represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Synge sold 25,000 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $43.43, for a total value of $1,085,750.00. Following the transaction, the director now directly owns 241,944 shares of the company's stock, valued at $10,507,627.92. This represents a 9.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,033 shares of company stock worth $3,176,238 over the last ninety days. 8.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Life360

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Life360 by 3,865.6% during the first quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company's stock valued at $218,194,000 after purchasing an additional 5,540,302 shares during the last quarter. Millennium Management LLC lifted its holdings in Life360 by 9.2% in the 4th quarter. Millennium Management LLC now owns 1,114,922 shares of the company's stock worth $46,013,000 after purchasing an additional 94,077 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Life360 by 320.0% in the 1st quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company's stock worth $21,087,000 after purchasing an additional 418,493 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Life360 by 402.9% in the 4th quarter. Franklin Resources Inc. now owns 539,592 shares of the company's stock worth $22,269,000 after purchasing an additional 432,292 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Life360 by 86.2% in the 4th 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. Institutional investors and hedge funds 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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