Life360 (NASDAQ:LIF) Stock Price Down 5.2% on Insider Selling

Shares of Life360, Inc. (NASDAQ:LIF) traded down 5.2% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $73.46 and last traded at $73.9650. 103,136 shares were traded during trading, a decline of 86% from the average session volume of 757,532 shares. The stock had previously closed at $78.00.

Specifically, CEO Lauren Antonoff sold 19,442 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $76.24, for a total value of $1,482,258.08. Following the completion of the transaction, the chief executive officer directly owned 305,385 shares in the company, valued at $23,282,552.40. The trade was a 5.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Goines sold 15,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $74.19, for a total transaction of $1,112,850.00. Following the sale, the director directly owned 56,809 shares in the company, valued at $4,214,659.71. This trade represents a 20.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group cut their price objective on shares of Life360 from $120.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Life360 in a research report on Monday. Stifel Nicolaus set a $92.00 price target on Life360 in a research note on Tuesday. Wall Street Zen upgraded Life360 from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Canaccord Genuity Group raised their price objective on Life360 from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Life360 Price Performance

The company has a 50-day moving average of $88.16 and a 200 day moving average of $81.57. The company has a quick ratio of 6.62, a current ratio of 6.80 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $5.71 billion, a PE ratio of 214.38 and a beta of 3.60.

Life360 (NASDAQ:LIF) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Life360 had a return on equity of 7.95% and a net margin of 6.46%.The company had revenue of $124.50 million for the quarter, compared to analyst estimates of $119.26 million. Sell-side analysts predict that Life360, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Life360

Several hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. grew its stake in Life360 by 824.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 268 shares of the company’s stock valued at $28,000 after acquiring an additional 239 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Life360 during the 3rd quarter worth approximately $32,000. CWM LLC grew its position in shares of Life360 by 71.4% in the third quarter. CWM LLC now owns 384 shares of the company’s stock valued at $41,000 after purchasing an additional 160 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Life360 in the third quarter valued at approximately $47,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Life360 by 1,663.3% in the third quarter. Jones Financial Companies Lllp now owns 529 shares of the company’s stock valued at $55,000 after purchasing an additional 499 shares during the last quarter. 20.00% of the stock is owned by hedge funds and other institutional investors.

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.