Life360 (NASDAQ:LIF) Trading Down 4.3% – Here’s Why

Life360, Inc. (NASDAQ:LIF) shares fell 4.3% during trading on Thursday . The company traded as low as $43.88 and last traded at $43.88. 51,909 shares were traded during mid-day trading, a decline of 80% from the average session volume of 257,212 shares. The stock had previously closed at $45.87.

Analysts Set New Price Targets

LIF has been the topic of a number of research analyst reports. JMP Securities upped their target price on shares of Life360 from $38.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. UBS Group raised their target price on shares of Life360 from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Loop Capital increased their target price on Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Stifel Nicolaus restated a “buy” rating and issued a $40.00 price target (up from $37.00) on shares of Life360 in a research note on Friday, August 9th. Finally, Jefferies Financial Group began coverage on Life360 in a research report on Friday, August 9th. They set a “buy” rating and a $43.00 price objective on the stock. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Life360 presently has an average rating of “Buy” and a consensus target price of $39.75.

Life360 Stock Up 0.8 %

The firm’s 50-day simple moving average is $38.50.

Life360 (NASDAQ:LIF) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The business had revenue of $84.86 million during the quarter, compared to analysts’ expectations of $85.00 million. Life360 had a negative net margin of 9.26% and a negative return on equity of 9.81%. As a group, equities analysts expect that Life360, Inc. will post -0.29 EPS for the current year.

Insider Activity at Life360

In other news, Director James Synge sold 33,617 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $37.04, for a total transaction of $1,245,173.68. Following the completion of the transaction, the director now owns 291,944 shares of the company’s stock, valued at approximately $10,813,605.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James Synge sold 33,617 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $37.04, for a total transaction of $1,245,173.68. Following the completion of the transaction, the director now directly owns 291,944 shares in the company, valued at $10,813,605.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles J. Prober sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,088 shares of company stock valued at $2,672,781 over the last three months.

Hedge Funds Weigh In On Life360

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in Life360 in the 2nd quarter valued at approximately $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Life360 in the second quarter valued at $192,000. SG Americas Securities LLC bought a new position in Life360 during the 3rd quarter worth $246,000. XY Capital Ltd bought a new stake in shares of Life360 in the 2nd quarter valued at about $205,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Life360 during the second quarter worth about $405,000.

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.