Life360, Inc. (NASDAQ:LIF) Sees Large Growth in Short Interest

Life360, Inc. (NASDAQ:LIF) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,090,000 shares, a growth of 73.3% from the February 28th total of 628,800 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 454,900 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LIF shares. UBS Group upgraded Life360 from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $55.00 in a research note on Friday, January 17th. Canaccord Genuity Group lifted their target price on Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Life360 has a consensus rating of “Buy” and a consensus target price of $47.63.

Insider Transactions at Life360

In other news, CFO Russell John Burke sold 3,104 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $42.74, for a total transaction of $132,664.96. Following the completion of the sale, the chief financial officer now owns 151,858 shares of the company’s stock, valued at approximately $6,490,410.92. This represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Lauren Antonoff sold 4,546 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $38.64, for a total transaction of $175,657.44. Following the sale, the chief operating officer now owns 317,802 shares in the company, valued at $12,279,869.28. This represents a 1.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,189 shares of company stock valued at $6,708,942.

Institutional Investors Weigh In On Life360

Several institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund acquired a new stake in shares of Life360 during the fourth quarter worth $25,000. Summit Investment Advisors Inc. grew its holdings in Life360 by 82.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock worth $44,000 after acquiring an additional 484 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Life360 in the 3rd quarter worth about $98,000. MetLife Investment Management LLC acquired a new position in shares of Life360 in the 3rd quarter valued at about $139,000. Finally, KBC Group NV acquired a new position in shares of Life360 in the 4th quarter valued at about $147,000. Institutional investors and hedge funds own 20.00% of the company’s stock.

Life360 Stock Down 0.8 %

NASDAQ LIF traded down $0.32 during trading hours on Friday, reaching $38.63. The company’s stock had a trading volume of 402,843 shares, compared to its average volume of 365,505. The firm has a fifty day simple moving average of $43.55 and a 200-day simple moving average of $42.89. Life360 has a 52 week low of $26.00 and a 52 week high of $52.77.

Life360 (NASDAQ:LIF) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.08). The business had revenue of $115.53 million for the quarter, compared to the consensus estimate of $114.39 million. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. On average, research analysts forecast that Life360 will post -0.17 EPS for the current year.

Life360 Company Profile

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.