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

Life360, Inc. (NASDAQ:LIF) shares gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $42.23, but opened at $40.29. Life360 shares last traded at $40.09, with a volume of 46,307 shares trading hands.

Specifically, Director Mark Goines sold 30,000 shares of Life360 stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the completion of the transaction, the director now directly owns 36,272 shares in the company, valued at $1,523,424. The trade was a 45.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Lauren Antonoff sold 13,106 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $42.08, for a total value of $551,500.48. Following the completion of the sale, the chief operating officer now directly owns 280,663 shares in the company, valued at $11,810,299.04. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, General Counsel Susan L. Stick sold 2,822 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $42.08, for a total value of $118,749.76. Following the completion of the sale, the general counsel now owns 86,752 shares of the company’s stock, valued at $3,650,524.16. This represents a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $55.00 in a report on Friday, January 17th. Canaccord Genuity Group boosted their price objective on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, JMP Securities upped their price objective on shares of Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $47.63.

Life360 Price Performance

The stock’s 50 day simple moving average is $44.03 and its 200-day simple moving average is $42.76.

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

Institutional Investors Weigh In On Life360

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund bought a new stake in shares of Life360 during the 4th quarter valued at $25,000. Summit Investment Advisors Inc. lifted its position in shares of Life360 by 82.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock worth $44,000 after purchasing an additional 484 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Life360 during the third quarter worth approximately $98,000. MetLife Investment Management LLC acquired a new stake in Life360 during the 3rd quarter worth approximately $139,000. Finally, KBC Group NV acquired a new stake in Life360 in the 4th quarter worth about $147,000. Institutional investors and hedge funds own 20.00% of the company’s stock.

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.