Life360 (NASDAQ:LIF) Shares Gap Up – Still a Buy?

Shares of Life360, Inc. (NASDAQ:LIF) gapped up before the market opened on Friday . The stock had previously closed at $40.57, but opened at $42.67. Life360 shares last traded at $43.05, with a volume of 55,583 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Canaccord Genuity Group boosted their target price on shares of Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Stifel Nicolaus boosted their price target on shares of Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. UBS Group upgraded shares of Life360 from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $55.00 in a research report on Friday. Finally, JMP Securities boosted their price target on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $47.63.

Life360 Stock Up 8.3 %

The firm’s fifty day simple moving average is $44.01 and its two-hundred day simple moving average is $39.75.

Insider Buying and Selling at Life360

In other news, CEO Chris Hulls sold 556,569 shares of the company’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $43.97, for a total transaction of $136,482.88. Following the completion of the transaction, the chief financial officer now owns 158,066 shares in the company, valued at approximately $6,950,162.02. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 635,881 shares of company stock worth $26,117,045 in the last ninety days.

Hedge Funds Weigh In On Life360

Several large investors have recently made changes to their positions in the stock. FMR LLC increased its stake in 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 buying an additional 86,917 shares during the period. Wealthstream Advisors Inc. purchased a new stake in Life360 during the 3rd quarter worth approximately $35,538,000. Millennium Management LLC purchased a new stake in Life360 during the 2nd quarter worth approximately $11,861,000. Ghisallo Capital Management LLC purchased a new stake in Life360 during the 2nd quarter worth approximately $8,098,000. Finally, Emerald Advisers LLC increased its stake in Life360 by 6.0% during the 3rd quarter. Emerald Advisers LLC now owns 221,679 shares of the company’s stock worth $8,723,000 after buying an additional 12,458 shares during the period. 20.00% of the stock is currently owned by institutional investors and hedge funds.

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.