Life360 (NASDAQ:LIF) Shares Down 5.4% – Should You Sell?

Life360, Inc. (NASDAQ:LIF)’s stock price traded down 5.4% during mid-day trading on Friday . The stock traded as low as $38.70 and last traded at $39.27. 205,304 shares changed hands during trading, a decline of 38% from the average session volume of 332,896 shares. The stock had previously closed at $41.49.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $55.00 in a report on Friday, January 17th. Canaccord Genuity Group upped their target price on shares of Life360 from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $47.63.

Life360 Price Performance

The stock’s 50-day moving average is $43.76 and its 200 day moving average is $42.79.

Life360 (NASDAQ:LIF) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The firm had revenue of $115.53 million during the quarter, compared to the consensus estimate of $114.39 million. Life360 had a negative net margin of 4.72% and a negative return on equity of 4.03%. On average, research analysts expect that Life360, Inc. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Russell John Burke sold 3,104 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.78, for a total transaction of $145,205.12. Following the completion of the transaction, the chief financial officer now directly owns 148,754 shares in the company, valued at $6,958,712.12. This represents a 2.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Synge sold 25,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $43.43, for a total transaction of $1,085,750.00. Following the transaction, the director now owns 241,944 shares of the company’s stock, valued at approximately $10,507,627.92. This represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 154,143 shares of company stock worth $6,519,549.

Hedge Funds Weigh In On Life360

A number of large investors have recently modified their holdings of LIF. New York State Common Retirement Fund acquired a new position in shares of Life360 during the 4th quarter worth about $25,000. Summit Investment Advisors Inc. lifted its stake in Life360 by 82.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock valued at $44,000 after purchasing an additional 484 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Life360 in the 3rd quarter valued at about $98,000. MetLife Investment Management LLC acquired a new stake in Life360 in the 3rd quarter valued at about $139,000. Finally, KBC Group NV acquired a new stake in Life360 in the 4th quarter valued at about $147,000. 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.