Life360 (NASDAQ:LIF) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Life360, Inc. (NASDAQ:LIF) saw an uptick in 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. 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.

Several other analysts also recently weighed in on LIF. 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 research note on Monday, October 28th. Jefferies Financial Group initiated coverage on Life360 in a research report on Friday, August 9th. They set a “buy” rating and a $43.00 price target on the stock. UBS Group boosted their price objective on Life360 from $35.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Loop Capital boosted their price objective on shares of Life360 from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $44.75.

Insider Activity

In other news, Director James Synge sold 3,471 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $37.34, for a total transaction of $129,607.14. Following the sale, the director now owns 67,102 shares in the company, valued at approximately $2,505,588.68. The trade was a 4.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles J. Prober sold 40,000 shares of Life360 stock in a transaction that occurred on 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 transaction, the director now owns 106,742 shares of the company’s stock, valued at $3,463,777.90. The trade was a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,088 shares of company stock valued at $2,672,781.

Institutional Inflows and Outflows

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

Life360 Price Performance

The business’s 50 day moving average is $41.15.

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.