Insider Selling: Life360 (NASDAQ:LIF) Director Sells $343,289.70 in Stock

Life360, Inc. (NASDAQ:LIF) Director Charles Prober sold 7,930 shares of the company’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $43.29, for a total transaction of $343,289.70. Following the completion of the transaction, the director directly owned 109,930 shares in the company, valued at $4,758,869.70. The trade was a 6.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Life360 Trading Up 1.4%

NASDAQ LIF traded up $0.59 during trading on Thursday, hitting $42.14. The stock had a trading volume of 732,912 shares, compared to its average volume of 963,167. Life360, Inc. has a twelve month low of $37.01 and a twelve month high of $100.18. The firm has a 50 day moving average price of $44.43 and a 200 day moving average price of $46.26. The company has a market capitalization of $3.43 billion, a PE ratio of 24.64 and a beta of 2.27. The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LIF. UBS Group dropped their price objective on Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. DA Davidson restated a “neutral” rating and set a $40.00 price objective on shares of Life360 in a research report on Tuesday, September 29th. Bank of America upped their target price on shares of Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Citigroup decreased their price objective on Life360 from $66.65 to $60.10 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Morgan Stanley set a $65.20 target price on shares of Life360 in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Life360 presently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Life360 in the second quarter valued at approximately $1,444,000. California State Teachers Retirement System grew its holdings in shares of Life360 by 23.5% in the 1st quarter. California State Teachers Retirement System now owns 86,635 shares of the company’s stock valued at $3,536,000 after acquiring an additional 16,461 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Life360 in the second quarter valued at approximately $15,547,000. Greenspring Advisors LLC acquired a new position in Life360 during the second quarter worth $9,592,000. Finally, Jupiter Topco LLC bought a new stake in shares of Life360 in the 2nd quarter valued at about $1,954,000. Institutional investors own 20.00% of the company’s stock.

Life360 Company Profile

Life360, Inc is a technology company that develops products designed to help families and groups stay connected, coordinate activities and improve personal safety. Its flagship Life360 mobile application provides location sharing, communication tools, driving-related features, emergency assistance and other services intended for family and community use.

The company also operates Tile, a brand of Bluetooth-enabled item-finding devices and related software that helps users locate keys, luggage, electronics and other belongings.