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

Shares of Life360, Inc. (NASDAQ:LIF) gapped down before the market opened on Wednesday . The stock had previously closed at $48.10, but opened at $43.57. Life360 shares last traded at $45.25, with a volume of 75,187 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have commented on LIF shares. JMP Securities raised their price objective on Life360 from $38.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, August 9th. Jefferies Financial Group assumed coverage on shares of Life360 in a research note on Friday, August 9th. They issued a “buy” rating and a $43.00 target price on the stock. Loop Capital boosted their price objective on Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Stifel Nicolaus upped their price objective on shares of Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, UBS Group increased their price target on shares of Life360 from $35.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $42.88.

Life360 Price Performance

The firm has a 50 day moving average of $40.88.

Insiders Place Their Bets

In related news, Director Charles J. Prober sold 40,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $32.45, for a total value of $1,298,000.00. Following the sale, the director now directly owns 106,742 shares of the company’s stock, valued at approximately $3,463,777.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director James Synge sold 3,471 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $37.34, for a total value of $129,607.14. Following the completion of the transaction, the director now directly owns 67,102 shares of the company’s stock, valued at $2,505,588.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles J. Prober sold 40,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $32.45, for a total value of $1,298,000.00. Following the completion of the sale, the director now owns 106,742 shares in the company, valued at $3,463,777.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,088 shares of company stock worth $2,672,781.

Institutional Trading of Life360

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new stake in shares of Life360 during the second quarter worth $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Life360 during the 2nd quarter valued at about $192,000. XY Capital Ltd acquired a new position in shares of Life360 during the second quarter worth approximately $205,000. SG Americas Securities LLC bought a new position in Life360 in the 3rd quarter worth approximately $246,000. Finally, WealthPlan Investment Management LLC increased its position in Life360 by 8.2% in the 3rd quarter. WealthPlan Investment Management LLC now owns 9,745 shares of the company’s stock valued at $383,000 after acquiring an additional 738 shares during the period.

About Life360

Life360 Inc is a family connection and safety company. Its business category includes mobile app and Tile tracking devices with a range of services, including location sharing, safe driver reports and crash detection with emergency dispatch. Life360 Inc is based in SAN FRANCISCO.