Life360 (NASDAQ:LIF) Shares Down 7.4% After Insider Selling

Shares of Life360, Inc. (NASDAQ:LIF) fell 7.4% on Monday after an insider sold shares in the company. The stock traded as low as $34.05 and last traded at $34.71. 152,655 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 251,379 shares. The stock had previously closed at $37.50.

Specifically, Director James Synge sold 33,617 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $37.04, for a total transaction of $1,245,173.68. Following the completion of the sale, the director now directly owns 291,944 shares in the company, valued at $10,813,605.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James Synge sold 3,471 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $37.34, for a total transaction of $129,607.14. Following the transaction, the director now directly owns 67,102 shares in the company, valued at $2,505,588.68. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LIF. Jefferies Financial Group initiated coverage on shares of Life360 in a research note on Friday, August 9th. They set a “buy” rating and a $43.00 price target for the company. Loop Capital lifted their target price on shares of Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price target (up previously from $37.00) on shares of Life360 in a report on Friday, August 9th. Canaccord Genuity Group raised shares of Life360 to a “strong-buy” rating in a research note on Monday, June 17th. Finally, Evercore ISI raised shares of Life360 to a “strong-buy” rating and set a $37.00 price target on the stock in a research report on Monday, June 17th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $39.75.

Life360 Stock Performance

The stock has a fifty day simple moving average of $34.80.

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

Hedge Funds Weigh In On Life360

Institutional investors have recently made changes to their positions in the stock. Regal Partners Ltd purchased a new stake in Life360 during the 2nd quarter valued at $23,635,000. Millennium Management LLC bought a new stake in shares of Life360 in the second quarter worth approximately $11,861,000. Ghisallo Capital Management LLC purchased a new position in shares of Life360 in the second quarter worth approximately $8,098,000. Emerald Advisers LLC purchased a new position in shares of Life360 in the second quarter worth approximately $6,777,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Life360 during the second quarter valued at approximately $5,488,000.

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.