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

Shares of Life360, Inc. (NASDAQ:LIF) gapped up prior to trading on Friday . The stock had previously closed at $42.88, but opened at $44.98. Life360 shares last traded at $45.11, with a volume of 29,513 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JMP Securities increased their price objective on Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. UBS Group upgraded Life360 from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $55.00 in a report on Friday, January 17th. Canaccord Genuity Group lifted their price target on shares of Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Stifel Nicolaus increased their price target on Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Life360 has an average rating of “Buy” and a consensus target price of $47.63.

Life360 Price Performance

The firm has a 50 day moving average of $44.31 and a two-hundred day moving average of $41.05.

Insider Activity at Life360

In other Life360 news, Director John Philip Coghlan sold 10,000 shares of Life360 stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.50, for a total transaction of $415,000.00. Following the transaction, the director now directly owns 41,628 shares of the company’s stock, valued at approximately $1,727,562. The trade was a 19.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chris Hulls sold 556,569 shares of the firm’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 owns 952,696 shares of the company’s stock, valued at $39,079,589.92. This trade represents a 36.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 638,985 shares of company stock valued at $26,262,250.

Institutional Trading of Life360

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LIF. Barings LLC bought a new stake in shares of Life360 in the 4th quarter valued at $556,000. Permanent Capital Management LP acquired a new stake in Life360 during the 4th quarter worth about $889,000. Arizona State Retirement System bought a new position in shares of Life360 in the 4th quarter worth about $842,000. Victory Capital Management Inc. acquired a new position in shares of Life360 in the 4th quarter valued at about $334,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Life360 by 203.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,186 shares of the company’s stock valued at $1,741,000 after purchasing an additional 28,279 shares in the last quarter. Institutional investors and hedge funds 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.