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

Life360, Inc. (NASDAQ:LIF)’s share price gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $46.74, but opened at $44.68. Life360 shares last traded at $44.3560, with a volume of 103,433 shares.

Specifically, Director Chris Hulls sold 250,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $46.84, for a total transaction of $11,710,000.00. Following the transaction, the director owned 382,056 shares in the company, valued at $17,895,503.04. This trade represents a 39.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles J. Prober sold 7,930 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $48.59, for a total transaction of $385,318.70. Following the completion of the sale, the director directly owned 109,930 shares of the company’s stock, valued at approximately $5,341,498.70. The trade was a 6.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group decreased their price target on shares of Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen cut shares of Life360 from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Bank of America lifted their price target on shares of Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Life360 in a research note on Friday, August 7th. Finally, Citigroup reduced their price target on Life360 from $66.65 to $60.10 and set a “buy” rating on the stock in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Life360 has a consensus rating of “Moderate Buy” and a consensus price target of $60.72.

Life360 Stock Up 6.1%

The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $53.06 and a two-hundred day moving average of $47.76. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 26.80 and a beta of 2.35.

Life360 (NASDAQ:LIF) last issued its earnings results on Monday, August 10th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $158.96 million for the quarter, compared to analyst estimates of $156.68 million. Life360 had a return on equity of 5.66% and a net margin of 25.73%. As a group, sell-side analysts anticipate that Life360, Inc. will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Life360

Several institutional investors and hedge funds have recently added to or reduced their stakes in LIF. Strive Financial Group LLC bought a new stake in shares of Life360 during the fourth quarter worth $26,000. MCF Advisors LLC bought a new position in shares of Life360 in the 4th quarter valued at $32,000. NewEdge Advisors LLC acquired a new stake in shares of Life360 during the 3rd quarter valued at $32,000. IFP Advisors Inc acquired a new stake in shares of Life360 during the 3rd quarter valued at $47,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Life360 by 136.6% during the 4th quarter. Advisors Asset Management Inc. now owns 899 shares of the company’s stock valued at $58,000 after acquiring an additional 519 shares in the last quarter. Institutional investors own 20.00% of the company’s stock.

Life360 Company Profile

Life360, Inc (NASDAQ: LIF) operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company’s services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.