Life360 (NASDAQ:LIF) Share Price Breaks Above 200 Day Moving Average on Insider Selling

Life360, Inc. (NASDAQ:LIF) shares passed above its 200-day moving average during trading on Wednesday following insider buying activity. The stock has a 200-day moving average of $47.04 and traded as high as $49.23. Life360 shares last traded at $48.05, with a volume of 766,925 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Life360 from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Bank of America increased their price objective on Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Citigroup lowered their target price on shares of Life360 from $60.10 to $60.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Weiss Ratings raised shares of Life360 from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Finally, Morgan Stanley set a $65.20 target price on Life360 in a research note on Wednesday, August 12th. One equities 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 company. According to data from MarketBeat, Life360 presently has an average rating of “Moderate Buy” and an average price target of $59.93.

Life360 Stock Up 6.6%

The firm has a market capitalization of $3.92 billion, a PE ratio of 28.10 and a beta of 2.17. The stock has a 50-day simple moving average of $42.71 and a 200-day simple moving average of $47.04. 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 issued its quarterly earnings results on Monday, August 10th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $158.96 million for 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%. Analysts forecast that Life360, Inc. will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings 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 in the last quarter. Sterling Capital Management LLC raised its position in Life360 by 872.7% during the third quarter. Sterling Capital Management LLC now owns 642 shares of the company’s stock valued at $26,000 after purchasing an additional 576 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Life360 by 2.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 25,300 shares of the company’s stock worth $1,401,000 after buying an additional 600 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Life360 by 85.5% in the 1st quarter. Royal Bank of Canada now owns 2,059 shares of the company’s stock worth $84,000 after acquiring an additional 949 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Life360 by 13.2% during the first quarter. Illinois Municipal Retirement Fund now owns 11,326 shares of the company’s stock valued at $462,000 after buying an additional 1,323 shares during the period. 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 connected safety and security products for families, individuals and pets. Its primary offering is the Life360 mobile application, which provides location sharing, family communication, driving safety tools, emergency assistance and other features intended to help users coordinate and stay connected.

The company also offers services such as crash detection, roadside assistance, SOS support and digital safety features. Through its ownership of Tile, Life360 provides Bluetooth-enabled finding devices and related tracking services for personal belongings.