Life360 (NASDAQ:LIF) Shares Gap Up – Still a Buy?

Shares of Life360, Inc. (NASDAQ:LIF) 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.

Analyst Ratings Changes

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

Life360 Trading Up 8.3 %

The company’s 50 day moving average price is $44.01 and its 200 day moving average price is $39.75.

Insider Transactions at Life360

In related news, Director John Philip Coghlan sold 10,000 shares of the business’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 completion of the transaction, the director now directly owns 41,628 shares in the company, valued at $1,727,562. The trade was a 19.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Chris Hulls sold 556,569 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $41.02, for a total transaction of $22,830,460.38. Following the transaction, the chief executive officer now owns 952,696 shares of the company’s stock, valued at $39,079,589.92. This represents a 36.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 635,881 shares of company stock worth $26,117,045.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LIF. FMR LLC increased its holdings in Life360 by 6.1% in the third quarter. FMR LLC now owns 1,520,135 shares of the company’s stock valued at $59,817,000 after buying an additional 86,917 shares in the last quarter. Wealthstream Advisors Inc. purchased a new position in Life360 in the third quarter valued at $35,538,000. Millennium Management LLC purchased a new position in Life360 in the second quarter valued at $11,861,000. Ghisallo Capital Management LLC purchased a new position in Life360 in the second quarter valued at $8,098,000. Finally, Emerald Advisers LLC increased its holdings in Life360 by 6.0% in the third quarter. Emerald Advisers LLC now owns 221,679 shares of the company’s stock valued at $8,723,000 after buying an additional 12,458 shares in the last quarter. 20.00% of the stock is currently owned by institutional investors and hedge funds.

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.