Life360 (NASDAQ:LIF) Reaches New 1-Year High – Here’s Why

Life360, Inc. (NASDAQ:LIF) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $48.90 and last traded at $48.90, with a volume of 203817 shares changing hands. The stock had previously closed at $48.19.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stifel Nicolaus raised their target price 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. JMP Securities raised their price objective on shares of Life360 from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Thursday. Loop Capital boosted their target price on Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. UBS Group raised their price target on Life360 from $35.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group started coverage on Life360 in a report on Friday, August 9th. They set a “buy” rating and a $43.00 price objective on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $44.75.

Life360 Stock Down 0.6 %

The stock’s fifty day simple moving average is $41.02.

Insider Buying and Selling at Life360

In other Life360 news, 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 value of $129,607.14. Following the transaction, the director now directly owns 67,102 shares in the company, valued at approximately $2,505,588.68. This represents a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles J. Prober sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $32.45, for a total transaction of $1,298,000.00. Following the sale, the director now directly owns 106,742 shares in the company, valued at $3,463,777.90. This represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 77,088 shares of company stock worth $2,672,781.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LIF. Point72 DIFC Ltd acquired a new position in Life360 in the second quarter valued at $43,000. BNP Paribas Financial Markets acquired a new position in shares of Life360 during the 3rd quarter valued at about $98,000. MetLife Investment Management LLC purchased a new position in shares of Life360 during the 3rd quarter worth about $139,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Life360 in the second quarter worth approximately $192,000. Finally, XY Capital Ltd acquired a new position in Life360 during the second quarter worth approximately $205,000.

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.