Life360 (NASDAQ:LIF) Shares Down 7.4% After Insider Selling

Life360, Inc. (NASDAQ:LIF)’s share price dropped 7.4% on Monday following insider selling activity. The stock traded as low as $34.05 and last traded at $34.71. Approximately 152,655 shares traded hands during trading, a decline of 39% from the average daily volume of 251,379 shares. The stock had previously closed at $37.50.

Specifically, Director James Synge sold 33,617 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $37.04, for a total value of $1,245,173.68. Following the completion of the sale, the director now owns 291,944 shares in the company, valued at $10,813,605.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Synge sold 3,471 shares of Life360 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 transaction, the director now directly owns 67,102 shares of the company’s stock, valued at approximately $2,505,588.68. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LIF. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target (up previously from $37.00) on shares of Life360 in a report on Friday, August 9th. Loop Capital raised their price objective on Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JMP Securities lifted their price target on Life360 from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Friday, August 9th. UBS Group lifted their price target on shares of Life360 from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group started coverage on Life360 in a research note on Monday, June 17th. They issued a “buy” rating and a $40.00 target price on the stock. One equities research 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 presently has a consensus rating of “Buy” and an average price target of $39.75.

Life360 Trading Down 1.1 %

The company’s 50-day simple moving average is $34.80.

Life360 (NASDAQ:LIF) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $84.86 million during the quarter, compared to analysts’ expectations of $85.00 million. Life360 had a negative net margin of 9.26% and a negative return on equity of 9.81%. Equities analysts forecast that Life360, Inc. will post -0.29 earnings per share for the current year.

Institutional Trading of Life360

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd bought a new position in shares of Life360 in the 2nd quarter worth $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Life360 during the 2nd quarter valued at $192,000. XY Capital Ltd bought a new stake in Life360 in the second quarter worth about $205,000. Point72 Asset Management L.P. bought a new position in Life360 during the second quarter valued at $405,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Life360 during the 2nd quarter valued at approximately $5,488,000.

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.