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

Life360, Inc. (NASDAQ:LIF) shares gapped up prior to trading on Friday . The stock had previously closed at $54.81, but opened at $67.90. Life360 shares last traded at $69.0150, with a volume of 981,907 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LIF shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Life360 in a research note on Monday, December 29th. Stifel Nicolaus set a $92.00 target price on shares of Life360 in a research note on Tuesday, December 9th. DA Davidson initiated coverage on shares of Life360 in a research note on Thursday, December 11th. They issued a “buy” rating and a $94.00 price target on the stock. Wall Street Zen cut shares of Life360 from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Zacks Research downgraded shares of Life360 from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.31.

Life360 Stock Up 28.7%

The firm has a 50-day moving average price of $67.26 and a two-hundred day moving average price of $81.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 6.62 and a current ratio of 6.80. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 207.62 and a beta of 3.79.

Life360 (NASDAQ:LIF) last released its quarterly earnings data on Monday, November 10th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $124.50 million for the quarter, compared to analysts’ expectations of $119.26 million. Life360 had a net margin of 6.46% and a return on equity of 7.95%. On average, sell-side analysts forecast that Life360, Inc. will post -0.17 earnings per share for the current year.

Insider Activity at Life360

In other news, Director Mark Goines sold 15,000 shares of Life360 stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $74.19, for a total value of $1,112,850.00. Following the transaction, the director directly owned 56,809 shares of the company’s stock, valued at $4,214,659.71. The trade was a 20.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Chris Hulls sold 311,749 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $77.10, for a total transaction of $24,035,847.90. Following the completion of the sale, the director owned 469,749 shares of the company’s stock, valued at approximately $36,217,647.90. This trade represents a 39.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 608,476 shares of company stock valued at $46,751,979 over the last 90 days. 8.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Life360 by 18.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,271,920 shares of the company’s stock worth $879,305,000 after buying an additional 1,260,236 shares during the last quarter. Norges Bank acquired a new position in Life360 during the second quarter worth $60,369,000. Franklin Resources Inc. increased its holdings in Life360 by 86.3% during the 3rd quarter. Franklin Resources Inc. now owns 760,122 shares of the company’s stock valued at $80,801,000 after acquiring an additional 352,110 shares in the last quarter. Citigroup Inc. lifted its stake in Life360 by 158.4% in the 3rd quarter. Citigroup Inc. now owns 749,569 shares of the company’s stock valued at $79,679,000 after buying an additional 459,463 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Life360 by 25.1% during the second quarter. Bank of New York Mellon Corp now owns 687,269 shares of the company’s stock valued at $44,844,000 after acquiring an additional 137,997 shares during the last quarter. Institutional investors and hedge funds own 20.00% of the company’s stock.

About Life360

Life360, Inc (NASDAQ: LIF) operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company’s services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.