Life360 (NASDAQ:LIF) Shares Gap Down – Should You Sell?

Shares of Life360, Inc. (NASDAQ:LIF) gapped down before the market opened on Wednesday . The stock had previously closed at $41.40, but opened at $40.08. Life360 shares last traded at $39.54, with a volume of 26,873 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LIF. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $55.00 in a research report on Friday, January 17th. Canaccord Genuity Group boosted their target price on shares of Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $47.63.

Life360 Trading Down 3.9 %

The business has a 50-day simple moving average of $43.69 and a 200 day simple moving average of $42.90.

Life360 (NASDAQ:LIF) last released its earnings results on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $115.53 million during the quarter, compared to analysts’ expectations of $114.39 million. On average, equities research analysts forecast that Life360, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Susan L. Stick sold 2,822 shares of the stock in a transaction 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 represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.78, for a total transaction of $145,205.12. Following the transaction, the chief financial officer now directly owns 148,754 shares of the company’s stock, valued at $6,958,712.12. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 151,039 shares of company stock worth $6,391,012 in the last three months.

Institutional Trading of Life360

Several hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake 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 period. Millennium Management LLC boosted its holdings in shares of Life360 by 9.2% in the fourth quarter. Millennium Management LLC now owns 1,114,922 shares of the company’s stock valued at $46,013,000 after purchasing an additional 94,077 shares during the period. Franklin Resources Inc. increased its stake in shares of Life360 by 402.9% during the fourth quarter. Franklin Resources Inc. now owns 539,592 shares of the company’s stock valued at $22,269,000 after buying an additional 432,292 shares during the period. Marshall Wace LLP raised its holdings in shares of Life360 by 86.2% in the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company’s stock valued at $16,975,000 after purchasing an additional 190,422 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in Life360 by 49.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 303,393 shares of the company’s stock valued at $12,521,000 after buying an additional 100,217 shares during the period. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

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.