Life360 (NASDAQ:LIF) Shares Gap Up – Time to Buy?

Life360, Inc. (NASDAQ:LIF)’s share price gapped up before the market opened on Friday . The stock had previously closed at $40.57, but opened at $42.67. Life360 shares last traded at $43.05, with a volume of 55,583 shares trading hands.

Wall Street Analysts Forecast Growth

LIF has been the topic of a number of research reports. JMP Securities upped their target price on shares of Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday, November 14th. Canaccord Genuity Group upped their target price on shares of Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Stifel Nicolaus increased their price target on shares of Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, UBS Group upgraded shares of Life360 from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $55.00 in a research report on Friday. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $47.63.

Life360 Stock Performance

The business has a 50 day moving average of $43.92 and a 200-day moving average of $39.83.

Insider Buying and Selling

In other news, CFO Russell John Burke sold 3,104 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $42.74, for a total transaction of $132,664.96. Following the completion of the transaction, the chief financial officer now directly owns 151,858 shares of the company’s stock, valued at $6,490,410.92. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Goines sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.89, for a total transaction of $438,900.00. Following the transaction, the director now directly owns 66,272 shares of the company’s stock, valued at $2,908,678.08. This represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 635,881 shares of company stock valued at $26,117,045.

Hedge Funds Weigh In On Life360

Several hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new position in shares of Life360 in the second quarter valued at $43,000. BNP Paribas Financial Markets bought a new position in shares of Life360 in the third quarter valued at $98,000. MetLife Investment Management LLC bought a new position in shares of Life360 in the third quarter valued at $139,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Life360 during the 2nd quarter valued at $192,000. Finally, SG Americas Securities LLC acquired a new stake in Life360 during the 3rd quarter valued at $246,000. 20.00% of the stock is owned by institutional investors.

Life360 Company Profile

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.