ASX-listed shares of Life360 (NASDAQ: LIF, ASX: 360) were down 3.8% by 3:45 pm AEDT (4:45 am GMT) after Director, Mark Goines, quietly sold more than US$1.1 million worth of stock in the company.
A Securities and Exchange Commission filing on December 3 declared that Goines sold off over 15,000 shares of common stock in the GPS and tracking company, with a value of US$1.11 million.
The shares were sold at prices ranging from $74.13 to $74.46.
Goines now directly owns 6,070 shares of Life360 common stock, which includes 2,339 restricted stock units, as well as indirectly owning 56,809 shares held by the Goines Wong Living Trust.
According to CommSec, although 360's 200-day moving average is trending higher, there is significant evidence that the bullish trend is near an end.
Recent price action has shown a lack of strength as the 5-day moving average has fallen below the 50-day moving average, and the 20-day moving average is trending lower.
Consensus is Moderate Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
