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

Shares of Life360, Inc. (NASDAQ:LIF) gapped up prior to trading on Tuesday . The stock had previously closed at $40.31, but opened at $41.50. Life360 shares last traded at $41.25, with a volume of 11,584 shares.

Analyst Ratings Changes

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

Life360 Price Performance

The company’s 50-day moving average price is $41.73.

Insiders Place Their Bets

In related news, CEO Chris Hulls sold 556,569 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $41.02, for a total transaction of $22,830,460.38. Following the sale, the chief executive officer now owns 952,696 shares in the company, valued at approximately $39,079,589.92. This represents a 36.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Synge sold 33,617 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $37.04, for a total value of $1,245,173.68. Following the completion of the sale, the director now owns 291,944 shares in the company, valued at approximately $10,813,605.76. The trade was a 10.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,657 shares of company stock worth $25,503,241 in the last three months.

Hedge Funds Weigh In On Life360

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wealthstream Advisors Inc. purchased a new stake in Life360 in the third quarter valued at about $35,538,000. Regal Partners Ltd acquired a new stake in shares of Life360 in the second quarter worth approximately $23,635,000. Millennium Management LLC acquired a new stake in shares of Life360 in the second quarter worth approximately $11,861,000. Ghisallo Capital Management LLC acquired a new position in Life360 during the second quarter worth $8,098,000. Finally, Emerald Advisers LLC acquired a new position in Life360 during the second quarter worth $6,777,000.

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.