Life360 (NASDAQ:LIF) Sees Strong Trading Volume on Analyst Upgrade

Shares of Life360, Inc. (NASDAQ:LIF) saw unusually-high trading volume on Friday after JMP Securities raised their price target on the stock from $40.00 to $55.00. JMP Securities currently has a market outperform rating on the stock. Approximately 1,676,323 shares traded hands during trading, an increase of 534% from the previous session’s volume of 264,531 shares.The stock last traded at $41.34 and had previously closed at $43.88.

Other research analysts have also issued reports about the company. Loop Capital lifted their target price on Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group started coverage on shares of Life360 in a research note on Friday, August 9th. They issued a “buy” rating and a $43.00 price target on the stock. UBS Group upped their price objective on Life360 from $35.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus lifted their price target on Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Life360 presently has a consensus rating of “Buy” and an average price target of $44.75.

Insider Transactions at Life360

In other Life360 news, Director Charles J. Prober sold 40,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $32.45, for a total value of $1,298,000.00. Following the completion of the transaction, the director now directly owns 106,742 shares in the company, valued at approximately $3,463,777.90. This trade represents a 27.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Synge sold 33,617 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $37.04, for a total transaction of $1,245,173.68. Following the completion of the transaction, the director now owns 291,944 shares of the company’s stock, valued at approximately $10,813,605.76. This trade represents a 10.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,088 shares of company stock valued at $2,672,781.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC purchased a new position in shares of Life360 during the third quarter valued at approximately $139,000. BNP Paribas Financial Markets purchased a new stake in shares of Life360 during the 3rd quarter worth approximately $98,000. FMR LLC raised its stake in shares of Life360 by 6.1% in the third quarter. FMR LLC now owns 1,520,135 shares of the company’s stock valued at $59,817,000 after buying an additional 86,917 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Life360 in the 3rd quarter valued at about $675,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Life360 in the third quarter valued at approximately $547,000.

Life360 Stock Down 4.3 %

The company has a 50-day simple moving average of $41.15.

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.