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

Life360, Inc. (NASDAQ:LIF)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $41.23, but opened at $46.25. Life360 shares last traded at $45.1650, with a volume of 245,715 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citizens Jmp downgraded Life360 from a “market outperform” rating to a “market perform” rating in a research report on Monday, January 5th. DA Davidson downgraded Life360 from a “buy” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $40.00 in a research report on Thursday, March 19th. UBS Group cut their price objective on Life360 from $110.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Wall Street Zen downgraded Life360 from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Life360 in a research report on Friday, March 27th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Life360 has a consensus rating of “Moderate Buy” and a consensus price target of $76.56.

Life360 Stock Up 6.4%

The firm has a market capitalization of $3.52 billion, a PE ratio of 25.09 and a beta of 3.90. The company has a fifty day simple moving average of $47.24 and a two-hundred day simple moving average of $68.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 6.16 and a current ratio of 6.26.

Insider Transactions at Life360

In other Life360 news, CEO Lauren Antonoff sold 17,153 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $44.86, for a total value of $769,483.58. Following the completion of the sale, the chief executive officer directly owned 288,232 shares in the company, valued at approximately $12,930,087.52. This represents a 5.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Philip Coghlan sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $41.32, for a total value of $165,280.00. Following the completion of the sale, the director owned 36,431 shares of the company’s stock, valued at $1,505,328.92. This represents a 9.89% 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 a total of 44,216 shares of company stock valued at $2,022,959 over the last 90 days. 8.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Life360

Hedge funds have recently made changes to their positions in the company. Citigroup Inc. lifted its holdings in shares of Life360 by 158.4% in the 3rd quarter. Citigroup Inc. now owns 749,569 shares of the company’s stock worth $79,679,000 after buying an additional 459,463 shares during the period. Castleark Management LLC purchased a new stake in shares of Life360 during the 2nd quarter worth $5,518,000. Permanent Capital Management LP purchased a new stake in shares of Life360 during the 3rd quarter worth $2,290,000. Vanguard Group Inc. lifted its stake in shares of Life360 by 18.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,271,920 shares of the company’s stock worth $879,305,000 after purchasing an additional 1,260,236 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of Life360 by 8,595.9% during the 2nd quarter. Osaic Holdings Inc. now owns 44,784 shares of the company’s stock worth $2,922,000 after purchasing an additional 44,269 shares during the last quarter. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

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.