Life360 (NASDAQ:LIF) Trading Up 8.3% – Here’s What Happened

Life360, Inc. (NASDAQ:LIF)’s stock price traded up 8.3% during mid-day trading on Friday . The stock traded as high as $52.66 and last traded at $52.9950. Approximately 202,870 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,105,326 shares. The stock had previously closed at $48.94.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LIF shares. Bank of America started coverage on shares of Life360 in a research report on Wednesday, April 22nd. They set a “buy” rating and a $60.00 price target for the company. Citigroup reaffirmed a “buy” rating on shares of Life360 in a report on Monday, June 8th. UBS Group cut their price objective on shares of Life360 from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings cut shares of Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Finally, Canaccord Genuity Group set a $72.00 target price on shares of Life360 in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Life360 presently has an average rating of “Moderate Buy” and an average price target of $64.17.

Life360 Stock Up 7.9%

The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.23 and a current ratio of 5.37. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 30.51 and a beta of 2.62. The business’s 50 day moving average price is $44.44 and its 200 day moving average price is $50.38.

Insider Activity

In other Life360 news, CEO Lauren Antonoff sold 2,716 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $45.23, for a total value of $122,844.68. Following the completion of the transaction, the chief executive officer owned 309,781 shares in the company, valued at approximately $14,011,394.63. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Philip Coghlan sold 4,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $43.99, for a total transaction of $175,960.00. Following the completion of the transaction, the director owned 28,431 shares of the company’s stock, valued at approximately $1,250,679.69. This trade represents a 12.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 79,102 shares of company stock valued at $3,450,375. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Life360

Institutional investors and hedge funds have recently modified their holdings of the business. Wilson Asset Management International PTY Ltd. increased its stake in Life360 by 108.6% during the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 50,000 shares of the company’s stock worth $3,207,000 after buying an additional 26,028 shares in the last quarter. Greenspring Advisors LLC acquired a new stake in shares of Life360 in the fourth quarter worth approximately $21,720,000. XY Capital Ltd acquired a new stake in shares of Life360 in the fourth quarter worth approximately $6,063,000. Hodges Capital Management Inc. increased its position in shares of Life360 by 36.4% during the fourth quarter. Hodges Capital Management Inc. now owns 63,546 shares of the company’s stock worth $4,076,000 after purchasing an additional 16,972 shares in the last quarter. Finally, Milford Funds Ltd. purchased a new stake in shares of Life360 during the fourth quarter worth approximately $9,604,000. Hedge funds and other institutional investors own 20.00% of the company’s stock.

About Life360

Life360, Inc (NASDAQ: LIF) operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company’s services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.