Life360 (NASDAQ:LIF) Shares Down 5.4% – Time to Sell?

Life360, Inc. (NASDAQ:LIF)’s stock price was down 5.4% during trading on Friday . The stock traded as low as $38.70 and last traded at $39.27. Approximately 205,304 shares were traded during trading, a decline of 38% from the average daily volume of 332,896 shares. The stock had previously closed at $41.49.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LIF shares. Canaccord Genuity Group upped their target price on Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, December 2nd. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $55.00 in a report on Friday, January 17th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $47.63.

Life360 Stock Performance

The business has a 50-day moving average price of $43.76 and a 200 day moving average price of $42.79.

Life360 (NASDAQ:LIF) last released its earnings results on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The business had revenue of $115.53 million during the quarter, compared to analysts’ expectations of $114.39 million. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. Sell-side analysts forecast that Life360, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Susan L. Stick sold 2,822 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $42.08, for a total transaction of $118,749.76. Following the completion of the sale, the general counsel now directly owns 86,752 shares in the company, valued at approximately $3,650,524.16. This trade represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Russell John Burke sold 3,104 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $42.51, for a total transaction of $131,951.04. Following the transaction, the chief financial officer now directly owns 184,961 shares in the company, valued at $7,862,692.11. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,143 shares of company stock worth $6,519,549 over the last quarter.

Hedge Funds Weigh In On Life360

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund bought a new position in Life360 during the fourth quarter valued at about $25,000. Summit Investment Advisors Inc. boosted its holdings in Life360 by 82.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock valued at $44,000 after purchasing an additional 484 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Life360 during the third quarter valued at approximately $98,000. MetLife Investment Management LLC acquired a new stake in Life360 during the third quarter valued at approximately $139,000. Finally, KBC Group NV acquired a new stake in Life360 during the fourth quarter valued at approximately $147,000. 20.00% of the stock is currently owned by institutional investors.

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.