Life360 (NASDAQ:LIF) Reaches New 1-Year High - Still a Buy?

Life360, Inc. (NASDAQ:LIF - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $69.45 and last traded at $68.16, with a volume of 1268717 shares changing hands. The stock had previously closed at $64.18.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LIF shares. Citigroup reaffirmed an "outperform" rating on shares of Life360 in a research report on Monday, June 16th. Loop Capital raised 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. UBS Group raised their price target on shares of Life360 from $57.00 to $71.00 and gave the company a "buy" rating in a report on Monday, June 16th. JMP Securities increased their price objective on shares of Life360 from $55.00 to $62.00 and gave the stock a "market outperform" rating in a research note on Monday, June 16th. Finally, Canaccord Genuity Group set a $75.00 target price on shares of Life360 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $59.50.

Life360 Trading Up 1.6%

The business has a fifty day moving average of $61.50 and a 200 day moving average of $48.48. The company has a market capitalization of $5.32 billion and a PE ratio of 771.94.

Life360 (NASDAQ:LIF - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.09. Life360 had a return on equity of 4.05% and a net margin of 2.42%. The business had revenue of $103.62 million for the quarter, compared to analyst estimates of $101.48 million. Equities analysts forecast that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Philip Coghlan sold 3,125 shares of the business'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 completion of the transaction, the director directly owned 29,778 shares of the company's stock, valued at $1,817,351.34. The trade was a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Russell John Burke sold 3,104 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $60.07, for a total value of $186,457.28. Following the completion of the transaction, the chief financial officer directly owned 209,083 shares of the company's stock, valued at approximately $12,559,615.81. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,433 shares of company stock valued at $5,764,483.

Hedge Funds Weigh In On Life360

Several institutional investors have recently added to or reduced their stakes in LIF. Cherrydale Wealth Management LLC acquired a new stake in Life360 during the second quarter worth about $268,000. Rhumbline Advisers boosted its position in shares of Life360 by 28.2% in the first quarter. Rhumbline Advisers now owns 16,217 shares of the company's stock worth $623,000 after buying an additional 3,566 shares during the period. Strs Ohio purchased a new stake in shares of Life360 in the first quarter worth about $157,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Life360 by 12.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,748 shares of the company's stock worth $5,327,000 after buying an additional 15,420 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Life360 by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company's stock worth $237,000 after buying an additional 378 shares during the period. 20.00% of the stock is currently owned by institutional investors and hedge funds.

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.