Short Interest in Life360, Inc. (NASDAQ:LIF) Grows By 73.3%

Life360, Inc. (NASDAQ:LIF) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,090,000 shares, a growth of 73.3% from the February 28th total of 628,800 shares. Based on an average daily volume of 454,900 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.6% of the company’s stock are short sold.

Insider Transactions at Life360

In other Life360 news, Director Charles J. Prober sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $41.52, for a total transaction of $2,076,000.00. Following the completion of the sale, the director now directly owns 102,742 shares of the company’s stock, valued at approximately $4,265,847.84. The trade was a 32.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Lauren Antonoff sold 4,546 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $38.64, for a total value of $175,657.44. Following the completion of the sale, the chief operating officer now directly owns 317,802 shares of the company’s stock, valued at approximately $12,279,869.28. This trade represents a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,189 shares of company stock valued at $6,708,942 over the last ninety days.

Hedge Funds Weigh In On Life360

Several institutional investors have recently bought and sold shares of the company. WealthPlan Investment Management LLC increased its position in Life360 by 2.5% in the fourth quarter. WealthPlan Investment Management LLC now owns 9,992 shares of the company’s stock worth $412,000 after buying an additional 247 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Life360 by 82.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company’s stock worth $44,000 after acquiring an additional 484 shares during the period. New York State Common Retirement Fund purchased a new stake in Life360 in the 4th quarter worth about $25,000. Corebridge Financial Inc. increased its holdings in Life360 by 64.0% in the 4th quarter. Corebridge Financial Inc. now owns 5,092 shares of the company’s stock worth $210,000 after acquiring an additional 1,987 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Life360 in the 3rd quarter valued at about $98,000. Hedge funds and other institutional investors own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LIF shares. Canaccord Genuity Group upped their price target on Life360 from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. UBS Group upgraded shares of Life360 from a “neutral” rating to a “buy” rating and upped their target price for the stock from $52.00 to $55.00 in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $47.63.

Life360 Trading Down 0.8 %

Shares of NASDAQ LIF traded down $0.32 during mid-day trading on Friday, reaching $38.63. 402,843 shares of the company’s stock were exchanged, compared to its average volume of 365,505. The firm has a 50-day moving average price of $43.55 and a two-hundred day moving average price of $42.89. Life360 has a 52 week low of $26.00 and a 52 week high of $52.77.

Life360 (NASDAQ:LIF) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). The company had revenue of $115.53 million for the quarter, compared to analysts’ expectations of $114.39 million. Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. Equities research analysts predict that Life360 will post -0.17 EPS for the current year.

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.