Life360 (NASDAQ:LIF) Trading 5.9% Higher - Here's What Happened

Life360, Inc. (NASDAQ:LIF - Get Free Report) shares rose 5.9% during trading on Monday . The stock traded as high as $68.14 and last traded at $67.98. Approximately 335,791 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 493,507 shares. The stock had previously closed at $64.19.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group raised their price objective on shares of Life360 from $57.00 to $71.00 and gave the company a "buy" rating in a research note 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 research report on Tuesday, May 13th. Canaccord Genuity Group set a $75.00 price objective on Life360 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Stifel Nicolaus lowered their price objective on Life360 from $52.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup restated an "outperform" rating on shares of Life360 in a report on Monday, June 16th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $59.50.

Life360 Trading Up 6.2%

The firm has a market capitalization of $5.22 billion and a P/E ratio of 758.01. The stock's 50-day simple moving average is $60.52 and its 200-day simple moving average is $48.15.

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

Insider Activity at Life360

In other news, CFO Russell John Burke sold 3,104 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $63.98, for a total transaction of $198,593.92. Following the completion of the transaction, the chief financial officer directly owned 199,522 shares of the company's stock, valued at $12,765,417.56. This represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lauren Antonoff sold 4,546 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $62.50, for a total transaction of $284,125.00. Following the sale, the chief operating officer owned 312,324 shares of the company's stock, valued at approximately $19,520,250. The trade was a 1.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,933 shares of company stock worth $5,732,608. 8.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Life360

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LIF. Summit Investment Advisors Inc. lifted its position in shares of Life360 by 82.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company's stock worth $44,000 after acquiring an additional 484 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Life360 by 2,938.9% during the 1st quarter. GAMMA Investing LLC now owns 2,188 shares of the company's stock valued at $84,000 after purchasing an additional 2,116 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings 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 purchasing an additional 1,978 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Life360 by 433.3% in the 1st quarter. New York State Common Retirement Fund now owns 3,200 shares of the company's stock worth $123,000 after purchasing an additional 2,600 shares during the period. Finally, Strs Ohio purchased a new position in Life360 during the 1st quarter valued at about $157,000. 20.00% of the stock is currently owned by institutional investors.

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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