Life360 (NASDAQ:LIF) Sees Large Volume Increase – Here’s What Happened

Shares of Life360, Inc. (NASDAQ:LIF) saw unusually-strong trading volume on Tuesday . Approximately 881,163 shares changed hands during trading, an increase of 100% from the previous session’s volume of 439,539 shares.The stock last traded at $62.67 and had previously closed at $61.11.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group boosted their price objective on Life360 from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Canaccord Genuity Group boosted their price objective on Life360 from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Stifel Nicolaus cut their target price on Life360 from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Loop Capital increased their price objective on Life360 from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $51.00.

Life360 Stock Up 2.9%

The business’s fifty day moving average is $45.56 and its two-hundred day moving average is $44.39. The stock has a market capitalization of $4.81 billion and a PE ratio of 698.78.

Life360 (NASDAQ:LIF) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. The company had revenue of $103.62 million during the quarter, compared to the consensus estimate of $101.48 million. Sell-side analysts expect that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at Life360

In related news, Director Mark Goines sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the completion of the transaction, the director now directly owns 36,272 shares in the company, valued at $1,523,424. This trade represents a 45.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Synge sold 25,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $43.43, for a total value of $1,085,750.00. Following the completion of the sale, the director now directly owns 241,944 shares in the company, valued at $10,507,627.92. This represents a 9.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,961 shares of company stock worth $5,106,488. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC boosted its stake in shares of Life360 by 2.5% in the fourth quarter. WealthPlan Investment Management LLC now owns 9,992 shares of the company’s stock valued at $412,000 after buying an additional 247 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Life360 by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company’s stock worth $237,000 after purchasing an additional 378 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Life360 by 82.3% during the fourth 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 last quarter. New York State Common Retirement Fund acquired a new position in Life360 during the fourth quarter worth $25,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in 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 during the last quarter. Institutional investors and hedge funds own 20.00% of the company’s stock.

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.