Life360 (NASDAQ:LIF) Shares Gap Down on Insider Selling

Life360, Inc. (NASDAQ:LIF) shares gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $41.40, but opened at $40.08. Life360 shares last traded at $39.54, with a volume of 26,873 shares.

Specifically, CFO Russell John Burke sold 3,104 shares of Life360 stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $39.35, for a total value of $122,142.40. Following the transaction, the chief financial officer now owns 181,857 shares in the company, valued at $7,156,072.95. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Lauren Antonoff sold 4,546 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $38.64, for a total transaction of $175,657.44. Following the completion of the transaction, the chief operating officer now directly owns 317,802 shares of the company’s stock, valued at $12,279,869.28. This trade represents a 1.41 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

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

Life360 Price Performance

The business has a 50-day simple moving average of $43.65 and a 200 day simple moving average of $42.85.

Life360 (NASDAQ:LIF) last announced its earnings results 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 company had revenue of $115.53 million during the quarter, compared to the consensus estimate of $114.39 million. On average, equities research analysts expect that Life360, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Life360

A number of hedge funds have recently bought and sold shares of the company. Hodges Capital Management Inc. bought a new stake in Life360 during the third quarter valued at $3,876,000. FMR LLC lifted its stake in shares of Life360 by 6.1% in the 3rd quarter. FMR LLC now owns 1,520,135 shares of the company’s stock valued at $59,817,000 after purchasing an additional 86,917 shares during the period. State Street Corp bought a new position in shares of Life360 during the 3rd quarter worth approximately $2,393,000. Cherrydale Wealth Management LLC acquired a new stake in Life360 in the fourth quarter worth $340,000. Finally, JPMorgan Chase & Co. increased its stake in Life360 by 295.6% in the third quarter. JPMorgan Chase & Co. now owns 13,054 shares of the company’s stock valued at $514,000 after purchasing an additional 9,754 shares in the last quarter. Institutional investors own 20.00% of the company’s stock.

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.