Life360 (NASDAQ:LIF) Shares Gap Up – Time to Buy?

Life360, Inc. (NASDAQ:LIF)’s share price gapped up before the market opened on Friday. The stock had previously closed at $40.30, but opened at $42.96. Life360 shares last traded at $43.0210, with a volume of 117,980 shares.

Analyst Upgrades and Downgrades

LIF has been the subject of several recent analyst reports. Citigroup reduced their target price on Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a report on Thursday, August 13th. DA Davidson reissued a “neutral” rating and issued a $40.00 price objective on shares of Life360 in a research report on Tuesday. Morgan Stanley set a $65.20 price objective on Life360 in a research note on Wednesday, August 12th. Wall Street Zen raised Life360 from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Finally, Weiss Ratings upgraded Life360 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Life360 Trading Up 7.2%

The stock has a market cap of $3.52 billion, a PE ratio of 25.25 and a beta of 2.27. The firm has a 50-day simple moving average of $46.92 and a 200-day simple moving average of $46.13. The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51.

Life360 (NASDAQ:LIF) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). Life360 had a net margin of 25.73% and a return on equity of 5.66%. The company had revenue of $158.96 million during the quarter, compared to analysts’ expectations of $156.68 million. Equities analysts forecast that Life360, Inc. will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Chris Hulls sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $46.84, for a total value of $11,710,000.00. Following the completion of the transaction, the director directly owned 382,056 shares in the company, valued at approximately $17,895,503.04. This trade represents a 39.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brit Morin sold 10,701 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $642,060.00. Following the completion of the transaction, the director owned 20,157 shares of the company’s stock, valued at $1,209,420. This trade represents a 34.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 394,860 shares of company stock worth $18,692,525 over the last quarter. Insiders own 6.80% of the company’s stock.

Institutional Trading of Life360

Several institutional investors and hedge funds have recently bought and sold shares of LIF. Cim Investment Management Inc. purchased a new position in shares of Life360 during the 2nd quarter valued at $222,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Life360 in the second quarter worth $317,000. Nykredit A S bought a new stake in Life360 during the second quarter valued at $126,000. Amundi boosted its stake in Life360 by 156.5% during the second quarter. Amundi now owns 12,969 shares of the company’s stock valued at $718,000 after buying an additional 7,912 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Life360 during the second quarter worth about $908,000. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Life360 Company Profile

Life360, Inc is a technology company that develops products designed to help families and groups stay connected, coordinate activities and improve personal safety. Its flagship Life360 mobile application provides location sharing, communication tools, driving-related features, emergency assistance and other services intended for family and community use.

The company also operates Tile, a brand of Bluetooth-enabled item-finding devices and related software that helps users locate keys, luggage, electronics and other belongings.