Life360 (NASDAQ:LIF) Hits New 1-Year High – Here’s What Happened

Life360, Inc. (NASDAQ:LIF)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $48.99 and last traded at $48.87, with a volume of 356718 shares trading hands. The stock had previously closed at $46.33.

Analyst Ratings Changes

LIF has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on shares of Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. UBS Group upped their target price on shares of Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Loop Capital raised their price target on Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group initiated coverage on Life360 in a research note on Friday, August 9th. They set a “buy” rating and a $43.00 price target for the company. Finally, JMP Securities increased their price objective on Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $44.75.

Life360 Trading Up 6.7 %

The business’s 50-day moving average price is $42.78.

Insider Activity at Life360

In other Life360 news, CEO Chris Hulls sold 556,569 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.02, for a total value of $22,830,460.38. Following the sale, the chief executive officer now owns 952,696 shares of the company’s stock, valued at $39,079,589.92. This trade represents a 36.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Synge sold 3,471 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $37.34, for a total transaction of $129,607.14. Following the transaction, the director now directly owns 67,102 shares of the company’s stock, valued at approximately $2,505,588.68. This trade represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 703,657 shares of company stock worth $28,392,141 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. FMR LLC grew its position in shares of Life360 by 6.1% in the 3rd quarter. FMR LLC now owns 1,520,135 shares of the company’s stock worth $59,817,000 after buying an additional 86,917 shares during the last quarter. Wealthstream Advisors Inc. purchased a new stake in Life360 in the third quarter worth $35,538,000. Regal Partners Ltd purchased a new stake in Life360 in the second quarter worth $23,635,000. Millennium Management LLC bought a new stake in Life360 in the second quarter valued at $11,861,000. Finally, Ghisallo Capital Management LLC purchased a new position in Life360 during the 2nd quarter valued at $8,098,000.

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.