Life360 (NASDAQ:LIF) Shares Gap Down – Here’s Why

Shares of Life360, Inc. (NASDAQ:LIF) gapped down prior to trading on Wednesday . The stock had previously closed at $48.10, but opened at $43.57. Life360 shares last traded at $45.25, with a volume of 75,187 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently commented on LIF. Loop Capital boosted their target price on shares of Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. JMP Securities boosted their target price on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday. Jefferies Financial Group assumed coverage on shares of Life360 in a research report on Friday, August 9th. They issued a “buy” rating and a $43.00 price target on the stock. 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. Finally, UBS Group boosted their price target on shares of Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $44.75.

Life360 Stock Performance

The stock’s 50-day simple moving average is $41.02.

Insider Buying and Selling at Life360

In other news, Director James Synge sold 33,617 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $37.04, for a total value of $1,245,173.68. Following the transaction, the director now directly owns 291,944 shares in the company, valued at approximately $10,813,605.76. This represents a 10.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles J. Prober sold 40,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $32.45, for a total transaction of $1,298,000.00. Following the completion of the transaction, the director now owns 106,742 shares in the company, valued at approximately $3,463,777.90. The trade was a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,088 shares of company stock worth $2,672,781 over the last quarter.

Institutional Trading of Life360

A number of hedge funds have recently added to or reduced their stakes in LIF. Regal Partners Ltd purchased a new stake in Life360 in the second quarter worth about $23,635,000. XY Capital Ltd purchased a new stake in Life360 in the second quarter worth about $205,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Life360 in the second quarter worth about $5,488,000. Emerald Advisers LLC purchased a new stake in Life360 in the second quarter worth about $6,777,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Life360 during the second quarter valued at about $43,000.

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.