Life360 (NASDAQ:LIF) Reaches New 1-Year High After Better-Than-Expected Earnings

Life360, Inc. (NASDAQ:LIF) shares hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $53.28 and last traded at $55.18, with a volume of 186162 shares. The stock had previously closed at $49.51.

The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. The company had revenue of $103.62 million during the quarter, compared to analysts’ expectations of $101.48 million. Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LIF shares. Loop Capital raised their price objective on shares of Life360 from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group raised their price target on shares of Life360 from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus dropped their price target on shares of Life360 from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Life360 presently has a consensus rating of “Buy” and a consensus target price of $49.50.

Insider Transactions at Life360

In related news, COO Lauren Antonoff sold 4,546 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $38.78, for a total transaction of $176,293.88. Following the transaction, the chief operating officer now owns 340,224 shares of the company’s stock, valued at approximately $13,193,886.72. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Philip Coghlan sold 3,125 shares of Life360 stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $43.30, for a total transaction of $135,312.50. Following the completion of the sale, the director now directly owns 32,903 shares of the company’s stock, valued at $1,424,699.90. The trade was a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 173,881 shares of company stock worth $7,220,851. Corporate insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC purchased a new stake in Life360 in the third quarter valued at approximately $320,000. Franklin Resources Inc. purchased a new stake in shares of Life360 during the 3rd quarter valued at $4,689,000. JPMorgan Chase & Co. grew its stake in shares of Life360 by 295.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,054 shares of the company’s stock valued at $514,000 after buying an additional 9,754 shares during the period. Affinity Capital Advisors LLC acquired a new stake in shares of Life360 during the 4th quarter worth $406,000. Finally, Cherrydale Wealth Management LLC purchased a new position in shares of Life360 in the 4th quarter worth $340,000. Institutional investors and hedge funds own 20.00% of the company’s stock.

Life360 Price Performance

The stock has a fifty day moving average of $39.86 and a two-hundred day moving average of $42.83.

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.