Life360 (NASDAQ:LIF) Sets New 12-Month High After Earnings Beat

Life360, Inc. (NASDAQ:LIF) hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $53.28 and last traded at $55.18, with a volume of 186162 shares trading hands. The stock had previously closed at $49.51.

The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. The company had revenue of $103.62 million for the quarter, compared to the consensus estimate of $101.48 million. Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%.

Analyst Ratings Changes

LIF has been the subject of a number of recent research reports. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $55.00 in a research report on Friday, January 17th. Stifel Nicolaus cut their price objective on shares of Life360 from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $47.38.

Insider Transactions at Life360

In other Life360 news, General Counsel Susan L. Stick sold 2,822 shares of Life360 stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $42.08, for a total transaction of $118,749.76. Following the completion of the sale, the general counsel now directly owns 86,752 shares of the company’s stock, valued at $3,650,524.16. The trade was a 3.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $43.60, for a total transaction of $135,334.40. Following the transaction, the chief financial officer now owns 142,546 shares of the company’s stock, valued at approximately $6,215,005.60. This trade represents a 2.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,381 shares of company stock valued at $7,197,406 over the last three months. Corporate insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Life360

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LIF. New York State Common Retirement Fund acquired a new stake in shares of Life360 in the fourth quarter valued at $25,000. Summit Investment Advisors Inc. boosted its holdings in Life360 by 82.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock valued at $44,000 after purchasing an additional 484 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Life360 by 2,938.9% in the 1st quarter. GAMMA Investing LLC now owns 2,188 shares of the company’s stock valued at $84,000 after buying an additional 2,116 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Life360 by 937.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,189 shares of the company’s stock worth $84,000 after purchasing an additional 1,978 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of Life360 in the fourth quarter valued at approximately $147,000. Institutional investors and hedge funds own 20.00% of the company’s stock.

Life360 Stock Performance

The company has a 50 day simple moving average of $39.50 and a 200 day simple moving average of $42.71.

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.