Life360, Inc.’s (NASDAQ:LIF) Lock-Up Period Set To Expire Tomorrow

Life360’s (NASDAQ:LIF) lock-up period will expire on Tuesday, December 3rd. Life360 had issued 5,750,000 shares in its public offering on June 6th. The total size of the offering was $155,250,000 based on an initial share price of $27.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

LIF has been the topic of a number of recent research reports. Loop Capital increased their price target on Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. JMP Securities lifted their price target on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. Stifel Nicolaus upped their price objective on shares of Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a report on Monday, October 28th. UBS Group lifted their price target on Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group initiated coverage on shares of Life360 in a research note on Friday, August 9th. They issued a “buy” rating and a $43.00 price objective on the stock. One investment 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 company’s stock. Based on data from MarketBeat.com, Life360 currently has an average rating of “Buy” and an average price target of $44.75.

Life360 Price Performance

Life360 stock opened at $49.31 on Monday. Life360 has a 12-month low of $26.00 and a 12-month high of $49.53. The stock’s fifty day moving average price is $43.31.

Insiders Place Their Bets

In related news, Director James Synge sold 3,471 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $37.34, for a total value of $129,607.14. Following the completion of the sale, the director now directly owns 67,102 shares in the company, valued at approximately $2,505,588.68. The trade was a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chris Hulls sold 556,569 shares of the business’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 sale, the chief executive officer now owns 952,696 shares of the company’s stock, valued at $39,079,589.92. The trade was a 36.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 703,657 shares of company stock valued at $28,392,141.

Institutional Investors Weigh In On Life360

Hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in shares of Life360 during the second quarter valued at about $43,000. BNP Paribas Financial Markets bought a new stake in shares of Life360 during the third quarter valued at approximately $98,000. MetLife Investment Management LLC acquired a new position in Life360 during the 3rd quarter worth $139,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Life360 in the 2nd quarter valued at about $192,000. Finally, XY Capital Ltd acquired a new position in shares of Life360 during the second quarter valued at approximately $205,000.

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.