Life360 (NASDAQ:LIF) Shares Gap Up – Here’s What Happened

Life360, Inc. (NASDAQ:LIF)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $48.86, but opened at $52.04. Life360 shares last traded at $52.59, with a volume of 45,254 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LIF. Evercore set a $68.00 price objective on shares of Life360 in a report on Tuesday, May 12th. Bank of America increased their target price on shares of Life360 from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Wall Street Zen cut shares of Life360 from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Morgan Stanley began coverage on shares of Life360 in a report on Tuesday, July 21st. They issued an “overweight” rating and a $66.24 price target for the company. Finally, DA Davidson upped their price objective on shares of Life360 from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.81.

Life360 Price Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.23 and a current ratio of 5.37. The company has a 50-day moving average of $49.57 and a 200-day moving average of $48.50. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 32.76 and a beta of 2.34.

Insider Activity at Life360

In other news, Director Brit Morin sold 4,655 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $55.00, for a total transaction of $256,025.00. Following the completion of the sale, the director owned 25,975 shares of the company’s stock, valued at $1,428,625. This represents a 15.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles J. Prober sold 7,930 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $46.07, for a total transaction of $365,335.10. Following the sale, the director owned 109,911 shares in the company, valued at approximately $5,063,599.77. The trade was a 6.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 57,006 shares of company stock valued at $2,614,066. Corporate insiders own 6.80% 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 the stock. Wilson Asset Management International PTY Ltd. boosted its position in shares of Life360 by 108.6% during the fourth quarter. Wilson Asset Management International PTY Ltd. now owns 50,000 shares of the company’s stock worth $3,207,000 after buying an additional 26,028 shares during the period. Greenspring Advisors LLC bought a new stake in Life360 in the 4th quarter valued at approximately $21,720,000. XY Capital Ltd acquired a new position in Life360 during the 4th quarter worth approximately $6,063,000. Milford Funds Ltd. acquired a new position in Life360 during the fourth quarter worth $9,604,000. Finally, Hodges Capital Management Inc. grew its position in Life360 by 36.4% in the fourth quarter. Hodges Capital Management Inc. now owns 63,546 shares of the company’s stock valued at $4,076,000 after purchasing an additional 16,972 shares in the last quarter. 20.00% of the stock is owned by institutional investors and hedge funds.

Life360 Company Profile

Life360, Inc (NASDAQ: LIF) operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company’s services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.