Life360 (NASDAQ:LIF) Reaches New 52-Week High – Here’s Why

Life360, Inc. (NASDAQ:LIF) reached a new 52-week high during trading on Monday . The company traded as high as $43.43 and last traded at $43.33, with a volume of 36962 shares. The stock had previously closed at $42.73.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JMP Securities lifted their price target on Life360 from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th. UBS Group boosted their price target on Life360 from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 target price (up previously from $37.00) on shares of Life360 in a research report on Friday, August 9th. Jefferies Financial Group assumed coverage on shares of Life360 in a research note on Friday, August 9th. They issued a “buy” rating and a $43.00 price target for the company. Finally, Loop Capital boosted their target price on shares of Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $39.75.

Life360 Stock Performance

The firm’s 50 day simple moving average is $37.75.

Life360 (NASDAQ:LIF) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Life360 had a negative return on equity of 9.81% and a negative net margin of 9.26%. The company had revenue of $84.86 million for the quarter, compared to analysts’ expectations of $85.00 million. On average, analysts forecast that Life360, Inc. will post -0.29 earnings per share for the current year.

Insider Transactions at Life360

In other news, Director Charles J. Prober sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $32.45, for a total value of $1,298,000.00. Following the completion of the sale, the director now owns 106,742 shares in the company, valued at approximately $3,463,777.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Charles J. Prober sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $32.45, for a total transaction of $1,298,000.00. Following the transaction, the director now directly owns 106,742 shares of the company’s stock, valued at approximately $3,463,777.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Synge sold 33,617 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $37.04, for a total value of $1,245,173.68. Following the transaction, the director now owns 291,944 shares in the company, valued at approximately $10,813,605.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,088 shares of company stock worth $2,672,781 in the last three months.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Regal Partners Ltd acquired a new position in shares of Life360 during the second quarter valued at about $23,635,000. Millennium Management LLC acquired a new stake in shares of Life360 during the second quarter worth about $11,861,000. Ghisallo Capital Management LLC purchased a new stake in Life360 in the second quarter valued at approximately $8,098,000. Emerald Advisers LLC acquired a new stake in Life360 during the 2nd quarter valued at approximately $6,777,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Life360 in the 2nd quarter valued at $5,488,000.

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.