Life360 (NASDAQ:LIF) Hits New 52-Week High – Should You Buy?

Life360, Inc. (NASDAQ:LIF)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $48.99 and last traded at $48.87, with a volume of 356718 shares traded. The stock had previously closed at $46.33.

Wall Street Analysts Forecast Growth

LIF has been the topic of several research analyst reports. Loop Capital boosted their price objective on Life360 from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Stifel Nicolaus boosted their price target on shares of Life360 from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Jefferies Financial Group started coverage on shares of Life360 in a report on Friday, August 9th. They set a “buy” rating and a $43.00 price objective for the company. JMP Securities lifted their price objective on shares of Life360 from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Finally, UBS Group increased their target price on shares of Life360 from $35.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $44.75.

Life360 Stock Performance

The firm has a 50 day moving average price of $42.78.

Insider Buying and Selling

In related news, 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 sale, the director now owns 291,944 shares of the company’s stock, valued at approximately $10,813,605.76. This represents a 10.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles J. Prober sold 40,000 shares of the firm’s 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 owns 106,742 shares of the company’s stock, valued at approximately $3,463,777.90. This represents a 27.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 703,657 shares of company stock valued at $28,392,141.

Institutional Trading of Life360

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. purchased a new position in shares of Life360 during the 3rd quarter valued at $4,689,000. Barclays PLC bought a new stake in Life360 during the third quarter valued at $320,000. First Dallas Securities Inc. purchased a new position in Life360 during the third quarter worth about $273,000. Geode Capital Management LLC bought a new position in Life360 in the 3rd quarter worth about $5,134,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Life360 in the 3rd quarter worth about $1,653,000.

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.