Life360 (NASDAQ:LIF) Trading Up 3.9% Following Analyst Upgrade

Life360, Inc. (NASDAQ:LIF - Get Free Report)'s stock price rose 3.9% during mid-day trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $58.00 to $70.00. Canaccord Genuity Group currently has a buy rating on the stock. Life360 traded as high as $62.96 and last traded at $63.25. Approximately 197,170 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 404,840 shares. The stock had previously closed at $60.89.

Several other equities analysts have also weighed in on LIF. Stifel Nicolaus dropped their price objective on shares of Life360 from $52.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. UBS Group upped their price target on shares of Life360 from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Loop Capital upped their target price on Life360 from $52.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Life360 has an average rating of "Buy" and an average target price of $51.00.

Insider Transactions at Life360

In related news, Director John Philip Coghlan sold 3,125 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $43.30, for a total transaction of $135,312.50. Following the sale, the director now directly owns 32,903 shares of the company's stock, valued at $1,424,699.90. This trade represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Susan L. Stick sold 2,822 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $42.08, for a total transaction of $118,749.76. Following the sale, the general counsel now directly owns 86,752 shares in the company, valued at approximately $3,650,524.16. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,881 shares of company stock valued at $7,220,851. 8.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Life360

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Life360 by 295.6% during the third quarter. JPMorgan Chase & Co. now owns 13,054 shares of the company's stock worth $514,000 after buying an additional 9,754 shares during the period. SG Americas Securities LLC boosted its position in shares of Life360 by 54.1% in the 4th quarter. SG Americas Securities LLC now owns 9,649 shares of the company's stock valued at $398,000 after purchasing an additional 3,386 shares during the period. KBC Group NV acquired a new position in Life360 in the 4th quarter valued at $147,000. Hodges Capital Management Inc. boosted its position in shares of Life360 by 18.3% during the 4th quarter. Hodges Capital Management Inc. now owns 116,493 shares of the company's stock valued at $4,808,000 after acquiring an additional 18,000 shares in the last quarter. Finally, First Dallas Securities Inc. increased its holdings in Life360 by 50.4% in the 4th quarter. First Dallas Securities Inc. now owns 10,450 shares of the company's stock worth $431,000 after purchasing an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 20.00% of the company's stock.

Life360 Stock Performance

The stock's 50 day simple moving average is $41.68 and its 200 day simple moving average is $43.37. The firm has a market cap of $4.86 billion and a P/E ratio of 704.97.

Life360 (NASDAQ:LIF - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.09. The business had revenue of $103.62 million for 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%. As a group, analysts forecast that Life360, Inc. will post -0.17 EPS for the current fiscal year.

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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