Life360 (NASDAQ:LIF) Shares Gap Up – Here’s What Happened

Life360, Inc. (NASDAQ:LIF) shares gapped up before the market opened on Tuesday . The stock had previously closed at $43.41, but opened at $44.70. Life360 shares last traded at $44.93, with a volume of 51,612 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group initiated coverage on Life360 in a report on Friday, August 9th. They issued a “buy” rating and a $43.00 price target for the company. UBS Group boosted their target price on shares of Life360 from $35.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Loop Capital raised their price target on shares of Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. JMP Securities lifted their price target on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus upped their price objective on shares of Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Life360 has an average rating of “Buy” and an average target price of $44.75.

Life360 Trading Up 3.5 %

The stock has a 50 day moving average of $42.22.

Insider Activity at Life360

In other news, Director James Synge sold 3,471 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $37.34, for a total value of $129,607.14. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Philip Coghlan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.50, for a total transaction of $415,000.00. Following the sale, the director now directly owns 41,628 shares of the company’s stock, valued at approximately $1,727,562. The trade was a 19.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 643,657 shares of company stock worth $25,918,241.

Hedge Funds Weigh In On Life360

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LIF. Point72 DIFC Ltd purchased a new stake in shares of Life360 during the second quarter worth about $43,000. BNP Paribas Financial Markets purchased a new position in Life360 in the third quarter valued at about $98,000. MetLife Investment Management LLC acquired a new stake in Life360 during the 3rd quarter valued at approximately $139,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Life360 during the 2nd quarter worth approximately $192,000. Finally, XY Capital Ltd purchased a new stake in Life360 during the 2nd quarter worth approximately $205,000.

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.