Insider Selling: Life360, Inc. (NASDAQ:LIF) Director Sells 30,000 Shares of Stock

Life360, Inc. (NASDAQ:LIF) Director Mark Goines sold 30,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the transaction, the director now directly owns 36,272 shares in the company, valued at approximately $1,523,424. The trade was a 45.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Life360 Stock Performance

LIF stock traded down $1.52 during trading on Tuesday, hitting $40.71. 1,011,762 shares of the stock traded hands, compared to its average volume of 287,275. Life360, Inc. has a 1 year low of $26.00 and a 1 year high of $52.76. The firm’s 50 day moving average is $44.03 and its two-hundred day moving average is $42.76.

Life360 (NASDAQ:LIF) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.08). Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. The firm had revenue of $115.53 million for the quarter, compared to analysts’ expectations of $114.39 million. Sell-side analysts expect that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

LIF has been the topic of a number of recent research reports. UBS Group raised shares of Life360 from a “neutral” rating to a “buy” rating and upped their target price for the stock from $52.00 to $55.00 in a research report on Friday, January 17th. Canaccord Genuity Group upped their target price on shares of Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, JMP Securities upped their target price 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $47.63.

Hedge Funds Weigh In On Life360

Several hedge funds and other institutional investors have recently bought and sold shares of LIF. Wealthstream Advisors Inc. bought a new position in Life360 during the 3rd quarter valued at about $35,538,000. Franklin Resources Inc. lifted its stake in Life360 by 402.9% during the 4th quarter. Franklin Resources Inc. now owns 539,592 shares of the company’s stock valued at $22,269,000 after acquiring an additional 432,292 shares during the period. Lord Abbett & CO. LLC bought a new position in Life360 during the 3rd quarter valued at about $7,995,000. Marshall Wace LLP lifted its stake in Life360 by 86.2% during the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company’s stock valued at $16,975,000 after acquiring an additional 190,422 shares during the period. Finally, Citadel Advisors LLC lifted its stake in Life360 by 1,233.3% during the 4th quarter. Citadel Advisors LLC now owns 200,781 shares of the company’s stock valued at $8,286,000 after acquiring an additional 185,722 shares during the period. Institutional investors own 20.00% of the company’s stock.

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.