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 traded.

Specifically, COO Lauren Antonoff sold 13,106 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were 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 approximately $11,810,299.04. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Susan L. Stick sold 2,822 shares of the firm’s stock in a transaction that occurred on 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 directly owns 86,752 shares of the company’s stock, valued at $3,650,524.16. This trade represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. In other Life360 news, Director Charles J. Prober sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $41.52, for a total transaction of $2,076,000.00. Following the completion of the sale, the director now owns 102,742 shares in the company, valued at approximately $4,265,847.84. The trade was a 32.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LIF. Canaccord Genuity Group raised their price objective on Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. JMP Securities raised their price target on Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. Finally, UBS Group raised shares of Life360 from a “neutral” rating to a “buy” rating and upped their target price for the stock from $52.00 to $55.00 in a report on Friday, January 17th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $47.63.

Life360 Trading Down 4.3 %

The stock has a 50-day simple moving average of $44.05 and a two-hundred day simple moving average of $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 net margin of 4.72% and a negative return on equity of 4.03%. The company had revenue of $115.53 million for the quarter, compared to analyst estimates of $114.39 million. On average, equities research analysts predict that Life360, Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of Life360

Several large investors have recently made changes to their positions in the company. WealthPlan Investment Management LLC boosted its stake in Life360 by 8.2% during the third quarter. WealthPlan Investment Management LLC now owns 9,745 shares of the company’s stock worth $383,000 after buying an additional 738 shares during the period. Wealthstream Advisors Inc. acquired a new stake in Life360 in the third quarter valued at approximately $35,538,000. Charles Schwab Investment Management Inc. purchased a new position in Life360 in the third quarter worth approximately $547,000. The Manufacturers Life Insurance Company acquired a new position in Life360 during the 3rd quarter worth approximately $675,000. Finally, FMR LLC lifted its position in shares of Life360 by 6.1% during the 3rd 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 during the last quarter. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

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.