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

Shares of Life360, Inc. (NASDAQ:LIF) 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LIF shares. Wall Street Zen downgraded Life360 from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. DA Davidson lifted their price target on shares of Life360 from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Citigroup lifted their price target on shares of Life360 from $60.15 to $66.65 and gave the company a “buy” rating in a report on Monday, July 6th. Canaccord Genuity Group set a $72.00 price objective on shares of Life360 in a research report on Tuesday, May 12th. Finally, 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 objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Life360 currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.81.

Life360 Stock Performance

The company has a 50-day simple moving average of $48.93 and a two-hundred day simple moving average of $48.63. 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 firm has a market capitalization of $4.32 billion, a P/E ratio of 30.71 and a beta of 2.34.

Insider Transactions at Life360

In other news, Director Charles J. Prober sold 7,930 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $46.07, for a total value of $365,335.10. Following the completion of the transaction, the director owned 109,911 shares in the company, valued at $5,063,599.77. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brit Morin sold 4,655 shares of Life360 stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $55.00, for a total value of $256,025.00. Following the sale, the director owned 25,975 shares in the company, valued at $1,428,625. This represents a 15.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 57,006 shares of company stock worth $2,614,066. 6.80% of the stock is owned by company insiders.

Institutional Trading of Life360

A number of hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Life360 by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company’s stock worth $237,000 after acquiring an additional 378 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Life360 by 12.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,748 shares of the company’s stock worth $5,327,000 after acquiring an additional 15,420 shares in the last quarter. Strs Ohio bought a new stake in Life360 during the first quarter worth about $157,000. New York State Common Retirement Fund boosted its stake in Life360 by 59.4% during the second quarter. New York State Common Retirement Fund now owns 5,100 shares of the company’s stock worth $333,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Life360 by 1,065.1% in the second quarter. Invesco Ltd. now owns 163,970 shares of the company’s stock worth $10,699,000 after purchasing an additional 149,896 shares during the period. Institutional investors own 20.00% of the company’s stock.

About Life360

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.