Life360 (NASDAQ:LIF) Trading Down 5.6% on Insider Selling

Life360, Inc. (NASDAQ:LIF)’s share price was down 5.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $39.61 and last traded at $39.62. Approximately 18,913 shares traded hands during trading, a decline of 93% from the average daily volume of 266,439 shares. The stock had previously closed at $41.95.

Specifically, CEO Chris Hulls sold 556,569 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $39,079,589.92. The trade was a 36.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

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

Life360 Stock Down 5.6 %

The firm’s 50-day simple moving average is $41.24.

Institutional Trading of Life360

A number of institutional investors have recently modified their holdings of LIF. Regal Partners Ltd bought a new stake in shares of Life360 during the 2nd quarter worth $23,635,000. XY Capital Ltd bought a new position in shares of Life360 during the second quarter worth about $205,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Life360 during the second quarter worth about $5,488,000. Emerald Advisers LLC bought a new stake in Life360 in the second quarter worth approximately $6,777,000. Finally, Point72 DIFC Ltd bought a new stake in Life360 in the second quarter worth approximately $43,000.

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.