Insider Selling: Life360, Inc. (NASDAQ:LIF) Director Sells $2,076,000.00 in Stock

Life360, Inc. (NASDAQ:LIF) Director Charles J. Prober sold 50,000 shares of Life360 stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $41.52, for a total value of $2,076,000.00. Following the completion of the sale, the director now directly owns 102,742 shares in the company, valued at $4,265,847.84. This trade represents a 32.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Life360 Trading Up 5.1 %

Shares of NASDAQ LIF opened at $43.94 on Friday. The stock has a 50 day moving average price of $44.04 and a 200 day moving average price of $42.71. Life360, Inc. has a 52-week low of $26.00 and a 52-week high of $52.76.

Life360 (NASDAQ:LIF) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The firm had revenue of $115.53 million during the quarter, compared to analysts’ expectations of $114.39 million. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. Research analysts predict that Life360, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Life360

A number of large investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Life360 by 6.1% during the third quarter. FMR LLC now owns 1,520,135 shares of the company’s stock worth $59,817,000 after purchasing an additional 86,917 shares in the last quarter. Millennium Management LLC increased its position in shares of Life360 by 9.2% during the fourth quarter. Millennium Management LLC now owns 1,114,922 shares of the company’s stock worth $46,013,000 after purchasing an additional 94,077 shares in the last quarter. Wealthstream Advisors Inc. acquired a new position in shares of Life360 in the 3rd quarter valued at $35,538,000. Franklin Resources Inc. increased its position in shares of Life360 by 402.9% in the 4th quarter. Franklin Resources Inc. now owns 539,592 shares of the company’s stock valued at $22,269,000 after acquiring an additional 432,292 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Life360 by 86.2% in the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company’s stock valued at $16,975,000 after acquiring an additional 190,422 shares during the period. 20.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LIF has been the topic of several research reports. Canaccord Genuity Group lifted their target price on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $55.00 in a research note on Friday, January 17th. Finally, JMP Securities boosted their price objective on Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.