Life360 (NASDAQ:LIF) Director Sells 7,930 Shares of Company Stock

Life360, Inc. (NASDAQ:LIF) Director Charles Prober sold 7,930 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $43.29, for a total transaction of $343,289.70. Following the transaction, the director directly owned 109,930 shares in the company, valued at $4,758,869.70. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Life360 Price Performance

Shares of NASDAQ LIF traded up $0.59 during trading hours on Thursday, hitting $42.14. 732,912 shares of the stock were exchanged, compared to its average volume of 963,167. The company’s fifty day simple moving average is $44.43 and its two-hundred day simple moving average is $46.26. The company has a market cap of $3.43 billion, a PE ratio of 24.64 and a beta of 2.27. Life360, Inc. has a 1-year low of $37.01 and a 1-year high of $100.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.46 and a current ratio of 5.60.

Life360 (NASDAQ:LIF) last released its quarterly earnings data on Monday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The company 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%. On average, sell-side analysts predict that Life360, Inc. will post 0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LIF. Weiss Ratings raised shares of Life360 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. UBS Group lowered their target price on Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Citigroup dropped their price target on shares of Life360 from $66.65 to $60.10 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Morgan Stanley set a $65.20 target price on Life360 in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Life360 from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Life360 currently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Hedge Funds Weigh In On Life360

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company bought a new position in Life360 in the second quarter worth about $1,444,000. California State Teachers Retirement System increased its holdings in shares of Life360 by 23.5% during the first quarter. California State Teachers Retirement System now owns 86,635 shares of the company’s stock valued at $3,536,000 after acquiring an additional 16,461 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Life360 in the second quarter worth about $15,547,000. Greenspring Advisors LLC purchased a new position in Life360 in the 2nd quarter worth approximately $9,592,000. Finally, Jupiter Topco LLC bought a new position in shares of Life360 during the second quarter valued at $1,954,000. 20.00% of the stock is owned by hedge funds and other institutional investors.

Life360 Company Profile

Life360, Inc is a technology company that develops products designed to help families and groups stay connected, coordinate activities and improve personal safety. Its flagship Life360 mobile application provides location sharing, communication tools, driving-related features, emergency assistance and other services intended for family and community use.

The company also operates Tile, a brand of Bluetooth-enabled item-finding devices and related software that helps users locate keys, luggage, electronics and other belongings.