Life360 (NASDAQ:LIF) Hits New 1-Year High Following Analyst Upgrade

Shares of Life360, Inc. (NASDAQ:LIF) hit a new 52-week high during trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $54.00 to $58.00. Canaccord Genuity Group currently has a buy rating on the stock. Life360 traded as high as $52.75 and last traded at $52.31, with a volume of 81442 shares. The stock had previously closed at $52.00.

LIF has been the subject of several other reports. Loop Capital boosted their target price on shares of Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group initiated coverage on shares of Life360 in a research report on Friday, August 9th. They set a “buy” rating and a $43.00 price objective for the company. JMP Securities upped their price objective on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. UBS Group upped their price objective on shares of Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on shares of Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Life360 currently has an average rating of “Buy” and an average target price of $47.00.

Insider Activity

In related news, CEO Chris Hulls sold 556,569 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.02, for a total transaction of $22,830,460.38. Following the transaction, the chief executive officer now directly owns 952,696 shares of the company’s stock, valued at $39,079,589.92. This represents a 36.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Goines sold 10,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $43.89, for a total transaction of $438,900.00. Following the transaction, the director now directly owns 66,272 shares in the company, valued at approximately $2,908,678.08. This represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 703,657 shares of company stock valued at $28,392,141.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LIF. Point72 DIFC Ltd bought a new position in shares of Life360 in the second quarter valued at $43,000. BNP Paribas Financial Markets purchased a new stake in shares of Life360 in the third quarter valued at about $98,000. MetLife Investment Management LLC purchased a new stake in Life360 during the third quarter worth about $139,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Life360 during the second quarter worth about $192,000. Finally, SG Americas Securities LLC bought a new position in Life360 during the third quarter worth about $246,000.

Life360 Trading Up 0.9 %

The business has a 50-day moving average price of $43.58.

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.