Short Interest in Life360, Inc. (NASDAQ:LIF) Drops By 17.4%

Life360, Inc. (NASDAQ:LIF) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 772,600 shares, a decrease of 17.4% from the January 15th total of 935,200 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 405,200 shares, the days-to-cover ratio is currently 1.9 days.

Insider Activity

In other Life360 news, Director John Philip Coghlan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $41.50, for a total transaction of $415,000.00. Following the completion of the sale, the director now directly owns 41,628 shares of the company’s stock, valued at approximately $1,727,562. This represents a 19.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $43.97, for a total transaction of $136,482.88. Following the completion of the sale, the chief financial officer now owns 158,066 shares of the company’s stock, valued at approximately $6,950,162.02. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,520 shares of company stock worth $3,571,283.

Institutional Investors Weigh In On Life360

Hedge funds have recently modified their holdings of the stock. Wealthstream Advisors Inc. purchased a new position in Life360 during the third quarter valued at approximately $35,538,000. Franklin Resources Inc. lifted its holdings in shares of Life360 by 402.9% in the 4th quarter. Franklin Resources Inc. now owns 539,592 shares of the company’s stock worth $22,269,000 after acquiring an additional 432,292 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Life360 in the third quarter worth $7,995,000. Marshall Wace LLP grew its position in Life360 by 86.2% during the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company’s stock worth $16,975,000 after acquiring an additional 190,422 shares during the last quarter. Finally, Swiss National Bank purchased a new position in shares of Life360 in the fourth quarter worth $5,717,000. Institutional investors own 20.00% of the company’s stock.

Life360 Price Performance

NASDAQ LIF opened at $46.46 on Monday. The business has a fifty day simple moving average of $43.66 and a 200 day simple moving average of $41.73. Life360 has a 12 month low of $26.00 and a 12 month high of $52.76.

Analyst Upgrades and Downgrades

LIF has been the subject of a number of recent analyst reports. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $55.00 in a report on Friday, January 17th. JMP Securities boosted their target price on Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. Stifel Nicolaus upped their target price on shares of Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Canaccord Genuity Group upped their price target on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $47.63.

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.