Life360 (NASDAQ:LIF) Shares Gap Down – What’s Next?

Life360, Inc. (NASDAQ:LIF)’s stock price gapped down before the market opened on Wednesday . 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 traded.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. UBS Group upgraded Life360 from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $55.00 in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $47.63.

Life360 Stock Down 3.9 %

The company’s 50 day simple moving average is $43.69 and its 200 day simple moving average is $42.90.

Life360 (NASDAQ:LIF) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.10 earnings per share 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 business had revenue of $115.53 million for the quarter, compared to the consensus estimate of $114.39 million. On average, equities research analysts forecast that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In related news, Director Charles J. Prober sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $41.52, for a total value of $2,076,000.00. Following the completion of the transaction, the director now directly owns 102,742 shares of the company’s stock, valued at approximately $4,265,847.84. This trade represents a 32.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Russell John Burke sold 3,104 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $42.51, for a total transaction of $131,951.04. Following the completion of the sale, the chief financial officer now owns 184,961 shares of the company’s stock, valued at $7,862,692.11. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 151,039 shares of company stock worth $6,391,012 over the last three months.

Institutional Investors Weigh In On Life360

A number of large investors have recently bought and sold shares of LIF. New York State Common Retirement Fund bought a new position in shares of Life360 in the 4th quarter valued at $25,000. Summit Investment Advisors Inc. lifted its position in shares of Life360 by 82.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock worth $44,000 after purchasing an additional 484 shares during the period. BNP Paribas Financial Markets bought a new position in Life360 during the third quarter worth $98,000. MetLife Investment Management LLC bought a new stake in Life360 during the third quarter valued at $139,000. Finally, KBC Group NV bought a new position in shares of Life360 during the 4th quarter worth approximately $147,000. 20.00% of the stock is currently owned by institutional investors and hedge funds.

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.