Life360 (NASDAQ:LIF) Stock Price Down 5.6% Following Insider Selling

Life360, Inc. (NASDAQ:LIF)’s stock price was down 5.6% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $39.61 and last traded at $39.62. Approximately 18,913 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 266,439 shares. The stock had previously closed at $41.95.

Specifically, CEO Chris Hulls sold 556,569 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.02, for a total value of $22,830,460.38. Following the completion of the transaction, the chief executive officer now directly owns 952,696 shares in the company, valued at approximately $39,079,589.92. This represents a 36.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LIF shares. UBS Group upped their price target on Life360 from $35.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Loop Capital increased their target price on shares of Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Stifel Nicolaus lifted their price target on shares of Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a report on Monday, October 28th. JMP Securities increased their price objective on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 14th. Finally, Jefferies Financial Group initiated coverage on Life360 in a research note on Friday, August 9th. They issued a “buy” rating and a $43.00 target price for the company. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $44.75.

Life360 Stock Performance

The company’s fifty day simple moving average is $41.37.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in Life360 in the second quarter valued at $43,000. BNP Paribas Financial Markets acquired a new stake in Life360 in the 3rd quarter valued at about $98,000. MetLife Investment Management LLC bought a new position in Life360 during the third quarter worth about $139,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Life360 during the second quarter worth approximately $192,000. Finally, XY Capital Ltd bought a new stake in Life360 in the second quarter valued at approximately $205,000.

Life360 Company Profile

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.