Life360 (NASDAQ:LIF) Shares Gap Up – Here’s What Happened

Life360, Inc. (NASDAQ:LIF)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $40.31, but opened at $41.50. Life360 shares last traded at $41.25, with a volume of 11,584 shares trading hands.

Wall Street Analyst Weigh In

LIF has been the topic of a number of research analyst reports. JMP Securities lifted their target price on Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, November 14th. UBS Group lifted their target price on Life360 from $35.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group initiated coverage on Life360 in a research report on Friday, August 9th. They issued a “buy” rating and a $43.00 target price on the stock. Loop Capital lifted their target price on Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus lifted their target price on Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $44.75.

Life360 Price Performance

The firm’s fifty day simple moving average is $41.73.

Insider Activity at Life360

In other news, 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 directly owns 106,742 shares of the company’s stock, valued at approximately $3,463,777.90. This represents a 27.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Chris Hulls sold 556,569 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was 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 of the company’s stock, valued at approximately $39,079,589.92. This represents a 36.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 633,657 shares of company stock worth $25,503,241.

Institutional Trading of Life360

Large investors have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new stake in Life360 during the 2nd quarter valued at approximately $43,000. BNP Paribas Financial Markets acquired a new stake in shares of Life360 during the third quarter worth $98,000. MetLife Investment Management LLC acquired a new stake in shares of Life360 during the third quarter worth $139,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Life360 in the 2nd quarter worth $192,000. Finally, XY Capital Ltd purchased a new position in shares of Life360 in the 2nd quarter worth $205,000.

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.