Life360 (NASDAQ:LIF) Reaches New 52-Week High – Still a Buy?

Life360, Inc. (NASDAQ:LIF)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.61 and last traded at $41.60, with a volume of 35980 shares traded. The stock had previously closed at $40.02.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LIF shares. UBS Group upped their price target on Life360 from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Jefferies Financial Group assumed coverage on shares of Life360 in a research note on Friday, August 9th. They issued a “buy” rating and a $43.00 target price for the company. Evercore ISI raised shares of Life360 to a “strong-buy” rating and set a $37.00 price target on the stock in a research report on Monday, June 17th. Canaccord Genuity Group raised shares of Life360 to a “strong-buy” rating in a report on Monday, June 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 price objective (up previously from $37.00) on shares of Life360 in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $39.75.

Life360 Trading Down 1.5 %

The company’s fifty day moving average is $36.67.

Life360 (NASDAQ:LIF) last announced its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Life360 had a negative net margin of 9.26% and a negative return on equity of 9.81%. The firm had revenue of $84.86 million during the quarter, compared to analyst estimates of $85.00 million. On average, equities research analysts expect that Life360, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James Synge sold 33,617 shares of Life360 stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $37.04, for a total value of $1,245,173.68. Following the sale, the director now directly owns 291,944 shares in the company, valued at $10,813,605.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Life360 news, Director Charles J. Prober sold 40,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $32.45, for a total transaction of $1,298,000.00. Following the sale, the director now directly owns 106,742 shares of the company’s stock, valued at $3,463,777.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James Synge sold 33,617 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $37.04, for a total transaction of $1,245,173.68. Following the transaction, the director now owns 291,944 shares of the company’s stock, valued at approximately $10,813,605.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,088 shares of company stock worth $2,672,781.

Institutional Trading of Life360

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Regal Partners Ltd bought a new position in shares of Life360 in the 2nd quarter valued at about $23,635,000. Millennium Management LLC bought a new position in shares of Life360 during the 2nd quarter worth approximately $11,861,000. Ghisallo Capital Management LLC acquired a new position in shares of Life360 during the 2nd quarter worth approximately $8,098,000. Emerald Advisers LLC acquired a new position in shares of Life360 during the 2nd quarter worth approximately $6,777,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Life360 in the 2nd quarter valued at $5,488,000.

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.