Life360 (NASDAQ:LIF) Sees Large Volume Increase - Here's Why

Life360, Inc. (NASDAQ:LIF - Get Free Report) shares saw strong trading volume on Tuesday . 881,163 shares changed hands during mid-day trading, an increase of 100% from the previous session's volume of 439,539 shares.The stock last traded at $62.67 and had previously closed at $61.11.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LIF shares. UBS Group increased their target price 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. Canaccord Genuity Group increased their price objective on shares of Life360 from $58.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Loop Capital raised their price objective on shares of Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Stifel Nicolaus cut 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Life360 currently has an average rating of "Buy" and a consensus price target of $51.00.

Life360 Trading Up 1.6%

The company's 50-day moving average price is $46.55 and its two-hundred day moving average price is $44.66. The company has a market cap of $4.90 billion and a P/E ratio of 711.22.

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

Insider Activity

In other Life360 news, General Counsel Susan L. Stick sold 500 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $62.23, for a total transaction of $31,115.00. Following the sale, the general counsel now owns 110,809 shares in the company, valued at approximately $6,895,644.07. The trade was a 0.45% decrease in their position. The transaction 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 dated Monday, June 2nd. The shares were sold at an average price of $61.03, for a total transaction of $190,718.75. Following the sale, the director now directly owns 29,778 shares of the company's stock, valued at $1,817,351.34. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,961 shares of company stock worth $5,106,488. Insiders own 8.00% of the company's stock.

Hedge Funds Weigh In On Life360

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LIF. WealthPlan Investment Management LLC lifted its holdings in shares of Life360 by 2.5% in the fourth quarter. WealthPlan Investment Management LLC now owns 9,992 shares of the company's stock valued at $412,000 after purchasing an additional 247 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Life360 by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company's stock valued at $237,000 after buying an additional 378 shares during the period. Summit Investment Advisors Inc. raised its position in Life360 by 82.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company's stock valued at $44,000 after buying an additional 484 shares during the period. New York State Common Retirement Fund purchased a new stake in Life360 in the 4th quarter worth about $25,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Life360 by 937.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,189 shares of the company's stock worth $84,000 after acquiring an additional 1,978 shares during the period. 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.