Alex Haro Sells 50,000 Shares of Life360 (NASDAQ:LIF) Stock

Life360, Inc. (NASDAQ:LIF) Director Alex Haro sold 50,000 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $40.88, for a total transaction of $2,044,000.00. Following the completion of the sale, the director owned 1,010,303 shares in the company, valued at $41,301,186.64. This represents a 4.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Life360 Price Performance

Shares of LIF traded down $0.23 during mid-day trading on Wednesday, reaching $40.75. 638,425 shares of the company’s stock were exchanged, compared to its average volume of 996,470. The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $48.74 and a two-hundred day simple moving average of $46.33. Life360, Inc. has a 52-week low of $37.01 and a 52-week high of $112.54. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 23.83 and a beta of 2.24.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on LIF. DA Davidson decreased their price objective on Life360 from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 15th. Morgan Stanley set a $65.20 target price on shares of Life360 in a research note on Wednesday, August 12th. Bank of America upped their target price on shares of Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Life360 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. Finally, Citigroup cut their price objective on shares of Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Life360 has an average rating of “Moderate Buy” and an average target price of $59.94.

Hedge Funds Weigh In On Life360

Several large investors have recently added to or reduced their stakes in the business. Eventide Asset Management LLC lifted its position in Life360 by 6.1% during the fourth quarter. Eventide Asset Management LLC now owns 8,319 shares of the company’s stock valued at $539,000 after buying an additional 478 shares in the last quarter. MCF Advisors LLC purchased a new position in shares of Life360 in the 4th quarter valued at $32,000. GAMMA Investing LLC boosted its position in Life360 by 44.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,861 shares of the company’s stock worth $103,000 after purchasing an additional 569 shares during the period. Handelsbanken Fonder AB increased its holdings in Life360 by 2.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 25,300 shares of the company’s stock valued at $1,401,000 after purchasing an additional 600 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Life360 by 12.5% during the 4th quarter. ProShare Advisors LLC now owns 6,743 shares of the company’s stock valued at $432,000 after buying an additional 751 shares during the period. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

About Life360

Life360, Inc is a technology company that develops location-based safety and coordination services for families, friends and other groups. Its primary product is the Life360 mobile application, which provides location sharing, private messaging, driving safety tools, crash detection, roadside assistance and other features designed to help users stay connected and respond to safety-related events.

The company also offers connected-device products through its Tile and Jiobit brands. Tile develops Bluetooth-enabled item trackers and related services that help users locate personal belongings, while Jiobit provides compact GPS tracking devices and services.