Life360 (NASDAQ:LIF) Shares Gap Down – Time to Sell?

Life360, Inc. (NASDAQ:LIF)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $46.18, but opened at $43.97. Life360 shares last traded at $44.12, with a volume of 15,997 shares changing hands.

Analyst Upgrades and Downgrades

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

Life360 Stock Performance

The business has a 50 day moving average price of $44.21 and a 200-day moving average price of $41.14.

Insider Buying and Selling at Life360

In other Life360 news, CFO Russell John Burke sold 3,104 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.78, for a total transaction of $145,205.12. Following the completion of the sale, the chief financial officer now directly owns 148,754 shares in the company, valued at $6,958,712.12. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Chris Hulls sold 556,569 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.02, for a total value of $22,830,460.38. Following the completion of the sale, 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. Insiders sold a total of 638,985 shares of company stock worth $26,262,250 over the last quarter.

Hedge Funds Weigh In On Life360

Hedge funds have recently bought and sold shares of the business. Wealthstream Advisors Inc. acquired a new stake in shares of Life360 during the 3rd quarter worth approximately $35,538,000. Lord Abbett & CO. LLC acquired a new stake in shares of Life360 in the third quarter valued at about $7,995,000. Geode Capital Management LLC acquired a new stake in Life360 during the 3rd quarter valued at approximately $5,134,000. Bank of New York Mellon Corp raised its stake in Life360 by 1,007.8% during the fourth quarter. Bank of New York Mellon Corp now owns 130,779 shares of the company’s stock worth $5,397,000 after buying an additional 118,974 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of Life360 in the 3rd quarter worth about $4,689,000. 20.00% of the stock is owned by institutional investors.

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.