Life360 (NASDAQ:LIF) Hits New 1-Year High Following Analyst Upgrade

Life360, Inc. (NASDAQ:LIF)’s share price hit a new 52-week high during mid-day trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $54.00 to $58.00. Canaccord Genuity Group currently has a buy rating on the stock. Life360 traded as high as $52.75 and last traded at $52.31, with a volume of 81442 shares traded. The stock had previously closed at $52.00.

LIF has been the topic of several other reports. UBS Group lifted their target price on Life360 from $35.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group started coverage on Life360 in a report on Friday, August 9th. They set a “buy” rating and a $43.00 price objective on the stock. Stifel Nicolaus lifted their price target on Life360 from $40.00 to $50.00 and gave the company a “buy” rating in a report on Monday, October 28th. JMP Securities lifted their price target on Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Finally, Loop Capital boosted their price objective on Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $47.00.

Insiders Place Their Bets

In related news, Director Charles J. Prober sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $32.45, for a total value of $1,298,000.00. Following the completion of the sale, the director now owns 106,742 shares in the company, valued at $3,463,777.90. This trade represents a 27.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chris Hulls sold 556,569 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 952,696 shares of the company’s stock, valued at approximately $39,079,589.92. The trade was a 36.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 703,657 shares of company stock valued at $28,392,141.

Institutional Investors Weigh In On Life360

A number of hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in Life360 in the second quarter valued at about $43,000. BNP Paribas Financial Markets purchased a new position in shares of Life360 during the 3rd quarter worth approximately $98,000. MetLife Investment Management LLC purchased a new position in shares of Life360 during the 3rd quarter worth approximately $139,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Life360 during the 2nd quarter worth approximately $192,000. Finally, XY Capital Ltd purchased a new position in shares of Life360 during the 2nd quarter worth approximately $205,000.

Life360 Stock Performance

The firm has a 50 day moving average of $43.58.

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.