SAN MATEO, CA—Life360, Inc. (NASDAQ:LIF) Chief Financial Officer Burke Russell John has sold 3,104 shares of the company's common stock, according to a recent SEC filing. The transaction, which took place on December 23, 2024, was completed at a weighted average price of $41.41 per share, resulting in a total sale value of $128,536. The sale comes as Life360, currently valued at $3.12 billion, has demonstrated strong momentum with a 56% return over the past year.
The shares were sold in multiple transactions within a price range of $40.95 to $41.81 per share. Following this sale, John holds 154,962 shares of Life360 stock, which includes 91,008 restricted stock units that are subject to vesting conditions. According to InvestingPro, analysts maintain a bullish outlook with price targets ranging from $50 to $58, while the company maintains a GOOD financial health score.
This transaction was conducted under a pre-established trading plan, commonly known as a 10b5-1 plan, which allows company insiders to sell a predetermined number of shares at a set time to avoid potential conflicts of interest. InvestingPro subscribers can access 11 additional key insights about Life360, including detailed analysis of insider transactions and comprehensive financial health metrics.
In other recent news, Life360 reported mixed third-quarter results with consolidated revenue and profitability falling short of expectations, despite robust growth in the Subscription segment. This growth was driven by greater international market penetration, an increase in average revenue per paying circle (ARPPC), and a successful back-to-school season. Analysts from Canaccord Genuity (TSX:CF) and Evercore ISI responded to these developments by raising their price targets for Life360 to $58 and $55 respectively, both maintaining positive ratings on the stock.
The company's revenue grew by 18.7% year-over-year, with a healthy gross profit margin of 74%. However, overall results were affected by lower hardware revenue due to delays in launching the new Tile product line. These issues have since been resolved, with direct-to-consumer sales more than doubling year-over-year in the six weeks following the launch of the new Tile products.
Other analysts also expressed confidence in Life360. Loop Capital Markets increased its price target from $36 to $43, while Stifel and JMP Securities initiated coverage with positive ratings. These changes followed Life360's announcement of a 31% year-over-year increase in monthly active users and a significant 35% year-on-year reduction in costs related to paid acquisitions and television marketing expenses.
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