Life360 (NASDAQ:LIF) Share Price Crosses Above 200-Day Moving Average After Insider Selling

Life360, Inc. (NASDAQ:LIF)’s stock price crossed above its 200-day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a 200-day moving average of $47.04 and traded as high as $49.23. Life360 shares last traded at $48.05, with a volume of 766,925 shares trading hands.

Wall Street Analyst Weigh In

LIF has been the topic of a number of research analyst reports. UBS Group reduced their price target on Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. DA Davidson reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Life360 in a research report on Tuesday, September 29th. Morgan Stanley set a $65.20 price objective on Life360 in a research report on Wednesday, August 12th. Weiss Ratings raised shares of Life360 from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Finally, Wall Street Zen raised Life360 from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.93.

Life360 Trading Up 6.6%

The company has a current ratio of 5.60, a quick ratio of 5.46 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $42.71 and a 200-day simple moving average of $47.04. The firm has a market capitalization of $3.92 billion, a P/E ratio of 28.10 and a beta of 2.17.

Life360 (NASDAQ:LIF) last issued its earnings results on Monday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). Life360 had a return on equity of 5.66% and a net margin of 25.73%. The firm had revenue of $158.96 million during the quarter, compared to the consensus estimate of $156.68 million. On average, equities research analysts forecast that Life360, Inc. will post 0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LIF. Principal Financial Group Inc. grew its stake in shares of Life360 by 455.0% during the first quarter. Principal Financial Group Inc. now owns 463,442 shares of the company’s stock valued at $18,918,000 after buying an additional 379,941 shares during the last quarter. Bank of America Corp DE increased its position in Life360 by 312.8% during the 1st quarter. Bank of America Corp DE now owns 407,296 shares of the company’s stock valued at $16,626,000 after purchasing an additional 308,632 shares during the period. Bank of New York Mellon Corp bought a new position in Life360 in the second quarter worth approximately $15,547,000. Greenspring Advisors LLC purchased a new stake in shares of Life360 during the 2nd quarter worth $9,592,000. Finally, Legal & General Group Plc purchased a new stake in shares of Life360 during the second quarter valued at about $9,467,000. Institutional investors own 20.00% of the company’s stock.

About Life360

Life360, Inc is a technology company that develops connected safety and security products for families, individuals and pets. Its primary offering is the Life360 mobile application, which provides location sharing, family communication, driving safety tools, emergency assistance and other features intended to help users coordinate and stay connected.

The company also offers services such as crash detection, roadside assistance, SOS support and digital safety features. Through its ownership of Tile, Life360 provides Bluetooth-enabled finding devices and related tracking services for personal belongings.