Life360 (NASDAQ:LIF) Shares Gap Up – Time to Buy?

Life360, Inc. (NASDAQ:LIF) gapped up prior to trading on Tuesday . The stock had previously closed at $43.41, but opened at $44.70. Life360 shares last traded at $44.93, with a volume of 51,612 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LIF. 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. 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 note on Monday, October 28th. 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 note on Thursday, November 7th. 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 note on Thursday, November 14th. Finally, Loop Capital boosted their price target on shares of Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Life360 currently has a consensus rating of “Buy” and an average price target of $44.75.

Life360 Stock Up 6.7 %

The stock’s 50 day simple moving average is $42.78.

Insider Buying and Selling at Life360

In other Life360 news, Director Mark Goines sold 50,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $40.70, for a total value of $2,035,000.00. Following the sale, the director now directly owns 76,272 shares in the company, valued at $3,104,270.40. This trade represents a 39.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Synge sold 33,617 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders have sold a total of 703,657 shares of company stock worth $28,392,141 over the last ninety days.

Hedge Funds Weigh In On Life360

Several hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Life360 by 6.1% during the third 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. Wealthstream Advisors Inc. purchased a new position in shares of Life360 during the third quarter worth about $35,538,000. Regal Partners Ltd purchased a new position in shares of Life360 during the second quarter worth about $23,635,000. Millennium Management LLC purchased a new position in shares of Life360 during the second quarter worth about $11,861,000. Finally, Ghisallo Capital Management LLC purchased a new position in shares of Life360 during the second quarter worth about $8,098,000.

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.