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

Life360, Inc. (NASDAQ:LIF)’s share price gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $46.74, but opened at $44.68. Life360 shares last traded at $44.3560, with a volume of 103,433 shares trading hands.

Specifically, Director Chris Hulls sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $46.84, for a total transaction of $11,710,000.00. Following the transaction, the director owned 382,056 shares in the company, valued at approximately $17,895,503.04. This trade represents a 39.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles J. Prober sold 7,930 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $48.59, for a total transaction of $385,318.70. Following the completion of the transaction, the director directly owned 109,930 shares of the company’s stock, valued at $5,341,498.70. This trade represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Macquarie Infrastructure started coverage on shares of Life360 in a research report on Tuesday, April 28th. They issued an “outperform” rating and a $32.20 price objective for the company. Canaccord Genuity Group set a $72.00 price target on Life360 in a report on Tuesday, May 12th. UBS Group dropped their price target on Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Wall Street Zen cut Life360 from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Evercore set a $68.00 price objective on Life360 in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Life360 currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.72.

Life360 Stock Performance

The stock has a fifty day simple moving average of $53.06 and a 200-day simple moving average of $47.76. The stock has a market cap of $3.73 billion, a P/E ratio of 26.80 and a beta of 2.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.46 and a current ratio of 5.60.

Life360 (NASDAQ:LIF) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $158.96 million during the quarter, compared to the consensus estimate of $156.68 million. Life360 had a net margin of 25.73% and a return on equity of 5.66%. On average, equities analysts expect that Life360, Inc. will post 0.53 earnings per share for the current year.

Institutional Investors Weigh In On Life360

Hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Life360 by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company’s stock valued at $237,000 after acquiring an additional 378 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Life360 by 12.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,748 shares of the company’s stock worth $5,327,000 after acquiring an additional 15,420 shares in the last quarter. Strs Ohio bought a new position in shares of Life360 during the 1st quarter worth approximately $157,000. New York State Common Retirement Fund raised its holdings in shares of Life360 by 59.4% in the second quarter. New York State Common Retirement Fund now owns 5,100 shares of the company’s stock valued at $333,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Life360 by 1,065.1% in the second quarter. Invesco Ltd. now owns 163,970 shares of the company’s stock valued at $10,699,000 after purchasing an additional 149,896 shares during the last quarter. Institutional investors and hedge funds own 20.00% of the company’s stock.

Life360 Company Profile

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.