Life360 (NASDAQ:LIF) Shares Gap Down Following Insider Selling

Life360, Inc. (NASDAQ:LIF - Get Free Report) shares gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $63.55, but opened at $60.54. Life360 shares last traded at $61.34, with a volume of 307,568 shares.

Specifically, Director John Philip Coghlan sold 3,125 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Susan L. Stick sold 500 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $62.23, for a total value of $31,115.00. Following the completion of the sale, the general counsel now directly 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 disclosure for this sale can be found here. In other Life360 news, COO Lauren Antonoff sold 4,546 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $62.23, for a total value of $282,897.58. Following the sale, the chief operating officer now owns 335,678 shares of the company's stock, valued at $20,889,241.94. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Stifel Nicolaus cut their target price on Life360 from $52.00 to $48.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. UBS Group boosted their target price on Life360 from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Loop Capital upped their price objective on Life360 from $52.00 to $58.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Canaccord Genuity Group upped their price objective on Life360 from $58.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $51.00.

Life360 Stock Up 1.6%

The business has a 50-day moving average price of $46.55 and a two-hundred day moving average price of $44.66. The firm has a market cap of $4.90 billion and a PE ratio of 711.22.

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

Hedge Funds Weigh In On Life360

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Life360 by 3,865.6% during the first quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company's stock worth $218,194,000 after purchasing an additional 5,540,302 shares in the last quarter. Millennium Management LLC grew its stake in shares of Life360 by 9.2% during the fourth 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 in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Life360 by 320.0% during the first 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 in the last quarter. Franklin Resources Inc. grew its stake in shares of Life360 by 402.9% during the fourth 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 in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Life360 by 86.2% during the fourth 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 in 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.