Life360 (NASDAQ:LIF) Director Brit Morin Sells 4,655 Shares

Life360, Inc. (NASDAQ:LIF) Director Brit Morin sold 4,655 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $55.00, for a total transaction of $256,025.00. Following the completion of the sale, the director directly owned 25,975 shares in the company, valued at approximately $1,428,625. This represents a 15.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Life360 Stock Up 3.6%

Shares of LIF traded up $1.97 during midday trading on Wednesday, reaching $57.33. The stock had a trading volume of 1,036,429 shares, compared to its average volume of 1,115,064. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 33.14 and a beta of 2.63. The company’s fifty day simple moving average is $45.02 and its two-hundred day simple moving average is $50.03. Life360, Inc. has a 1-year low of $37.01 and a 1-year high of $112.54. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.37 and a quick ratio of 5.23.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LIF. Bank of America initiated coverage on Life360 in a research note on Wednesday, April 22nd. They issued a “buy” rating and a $60.00 price target on the stock. Canaccord Genuity Group set a $72.00 price objective on Life360 in a research report on Tuesday, May 12th. Weiss Ratings downgraded Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Evercore set a $68.00 target price on Life360 in a research report on Tuesday, May 12th. Finally, DA Davidson boosted their target price on Life360 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Life360 presently has an average rating of “Moderate Buy” and a consensus price target of $64.17.

Institutional Investors Weigh In On Life360

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in Life360 by 0.4% in the second quarter. California State Teachers Retirement System now owns 61,697 shares of the company’s stock valued at $4,026,000 after acquiring an additional 254 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of Life360 by 8.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 3,617 shares of the company’s stock worth $232,000 after purchasing an additional 273 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Life360 by 21.1% during the fourth quarter. Russell Investments Group Ltd. now owns 1,673 shares of the company’s stock worth $107,000 after purchasing an additional 292 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Life360 in the 3rd quarter valued at about $32,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Life360 by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,127 shares of the company’s stock valued at $1,379,000 after purchasing an additional 343 shares during the last quarter. 20.00% of the stock is currently owned by institutional investors and hedge funds.

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.