Life360 (NASDAQ:LIF) Reaches New 1-Year High After Analyst Upgrade

Life360, Inc. (NASDAQ:LIF)’s share price hit a new 52-week high during trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $54.00 to $58.00. Canaccord Genuity Group currently has a buy rating on the stock. Life360 traded as high as $52.75 and last traded at $52.31, with a volume of 81442 shares. The stock had previously closed at $52.00.

LIF has been the topic of a number of other reports. Loop Capital boosted 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. Jefferies Financial Group assumed coverage on shares of Life360 in a report on Friday, August 9th. They issued a “buy” rating and a $43.00 price target on the stock. Stifel Nicolaus lifted their price objective on Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, October 28th. JMP Securities boosted their target price on Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Finally, UBS Group lifted their price target on Life360 from $35.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. 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. According to data from MarketBeat, Life360 presently has a consensus rating of “Buy” and a consensus target price of $47.00.

Insider Activity at Life360

In related news, Director James Synge sold 3,471 shares of the company’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 sale, the director now directly owns 67,102 shares of the company’s stock, valued at $2,505,588.68. This represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Goines sold 10,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.89, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 703,657 shares of company stock worth $28,392,141 in the last 90 days.

Institutional Trading of Life360

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Life360 by 0.4% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 170,182 shares of the company’s stock worth $6,697,000 after purchasing an additional 736 shares in the last quarter. WealthPlan Investment Management LLC boosted its holdings in shares of Life360 by 8.2% during 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 last quarter. Point72 DIFC Ltd bought a new stake in shares of Life360 in the second quarter worth approximately $43,000. BNP Paribas Financial Markets purchased a new position in shares of Life360 during the third quarter valued at approximately $98,000. Finally, MetLife Investment Management LLC purchased a new stake in Life360 during the 3rd quarter valued at $139,000.

Life360 Price Performance

The firm has a fifty day simple moving average of $43.31.

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.