Short Interest in Life360, Inc. (NASDAQ:LIF) Expands By 48.7%

Life360, Inc. (NASDAQ:LIF) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 179,900 shares, an increase of 48.7% from the August 15th total of 121,000 shares. Based on an average daily volume of 259,900 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.3% of the shares of the company are sold short.

Analyst Ratings Changes

A number of analysts have recently commented on LIF shares. JMP Securities boosted their price objective on Life360 from $38.00 to $40.00 and gave the company a “market outperform” rating in a research report on Friday, August 9th. UBS Group upped their price objective on shares of Life360 from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Loop Capital raised their target price on Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Canaccord Genuity Group started coverage on Life360 in a report on Monday, June 17th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Canaccord Genuity Group upgraded shares of Life360 to a “strong-buy” rating 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’s stock. Based on data from MarketBeat, Life360 presently has an average rating of “Buy” and an average target price of $39.75.

Life360 Stock Performance

Shares of Life360 stock traded down $0.15 on Monday, reaching $34.00. The company had a trading volume of 165,103 shares, compared to its average volume of 265,868. The business has a 50 day simple moving average of $34.87. Life360 has a 52-week low of $26.00 and a 52-week high of $41.17.

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

Insider Buying and Selling at Life360

In related news, Director James Synge sold 33,617 shares of the stock in a transaction that occurred 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. The sale was disclosed in a filing with the SEC, which is available through this link. In other Life360 news, Director James Synge sold 33,617 shares of the company’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 sale, the director now directly owns 291,944 shares of the company’s stock, valued at $10,813,605.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles J. Prober sold 40,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $32.45, for a total value of $1,298,000.00. Following the sale, the director now directly owns 106,742 shares in the company, valued at $3,463,777.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,088 shares of company stock worth $2,672,781.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in Life360 in the second quarter worth approximately $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Life360 in the 2nd quarter valued at $192,000. XY Capital Ltd acquired a new position in shares of Life360 during the second quarter worth $205,000. Point72 Asset Management L.P. acquired a new position in shares of Life360 during the second quarter worth $405,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Life360 in the second 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.