SAN MATEO, CA—Life360, Inc. (ASX:LIF) Director James Synge has sold a significant portion of his holdings in the company, according to a recent SEC filing. On November 26, Synge sold a total of 25,000 shares of Life360's common stock, amounting to approximately $1.1 million. The shares were sold at prices ranging from $43.81 to $44.63.
Following the transactions, Synge retains 266,944 shares of Life360 stock under direct ownership. Additionally, Synge holds an indirect interest through ICCA Labs, LLC, which accounts for 3,966 shares.
The sales were conducted through Chess Depositary Interests (CDIs) on the Australian Securities Exchange, reflecting Life360's international market presence. The transactions highlight Synge's continued involvement in the company while adjusting his investment portfolio.
In other recent news, Life360 has been the focus of several significant developments. The company recently released a media statement detailing current operations, as disclosed in an 8-K filing with the Securities and Exchange Commission. This information is accessible via Life360's website and the SEC filing, with the company reserving the right to remove this availability at any time.
Life360 also reported a 31% year-over-year increase in monthly active users, surpassing its five-year compound annual growth rate of 24%. In addition, the company saw a 35% reduction in costs related to paid acquisitions and television marketing expenses year-on-year, with plans to increase investment during the upcoming back-to-school season.
Several analyst firms have adjusted their stock price targets for Life360 following its recent earnings report. Evercore ISI raised its price target from $39 to $55, maintaining an Outperform rating, while Loop Capital Markets increased its price target from $36 to $43, upholding a Buy rating. Other firms, including Stifel, JMP Securities, and Canaccord Genuity, have initiated coverage on Life360 with positive ratings, emphasizing the company's growth potential and strong customer base. These recent developments reflect a promising outlook for Life360.
InvestingPro Insights
Life360's recent stock performance aligns with Director James Synge's decision to sell a portion of his holdings. According to InvestingPro data, Life360 has experienced a significant return over the last week, with a 17.1% price increase. This short-term surge is part of a broader trend, as the company has seen an impressive 83.15% price total return over the past year.
The company's strong market position is further evidenced by its trading near its 52-week high, with the current price at 99.9% of that peak. This performance is reflected in Life360's market capitalization, which stands at $3.37 billion.
Despite the positive stock performance, InvestingPro Tips reveal that Life360 is not currently profitable over the last twelve months. However, analysts predict the company will be profitable this year, suggesting potential for financial improvement. The company's revenue growth of 18.7% in the last twelve months as of Q3 2024 indicates ongoing business expansion.
For investors seeking a more comprehensive analysis, InvestingPro offers 15 additional tips for Life360, providing a deeper understanding of the company's financial health and market position.
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