ASX 200 tech shares led last week with sector darling Life360 now up 21% in a month

ASX tech shares led the market with a 2.7% increase while the ASX 200 slipped 0.07%.

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Key points
  • ASX 200 tech shares outperformed last week with a 2.7% gain, led by strong performances from Life360 and Megaport, while the overall ASX 200 index slightly declined.
  • Life360 shares soared 8% last week, while Megaport saw a 5.68% rise after a bullish upgrade from Citi.
  • The tech sector's strong showing contrasted with declines in other sectors, such as energy, which lost 4.45%.

ASX 200 tech shares led the 11 market sectors last week with a 2.7% gain over the five trading days.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) slipped 0.07% to close at 8,864.9 points on Friday.

Just five of the 11 market sectors finished the week in the green.

Let's review.

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Image source: Getty Images

ASX technology shares led the market last week

Let's take a look at how the major ASX 200 technology shares performed last week.

The ASX 200's largest tech share, WiseTech Global Ltd (ASX: WTC), lifted 1.46% to close at $94.93 on Friday.

We presented 4 expert opinions on whether WiseTech shares are a buy, hold, or sell right now.

Wisetech shares went ex-dividend on Friday and will pay a final dividend of 11.9 cents on 10 October.

The Xero Ltd (ASX: XRO) share price rose 2.07% to $162.18 last week.

TechnologyOne Ltd (ASX: TNE) shares slipped 0.21% to $38.06 apiece.

Nextdc Ltd (ASX: NXT) shares increased 4.84% to $17.32.

The Life360 Inc (ASX: 360) share price swished 8% higher to $49.34.

Life360 shares are a firm investor favourite and have risen 21% in just one month.

Morgan Stanley has a buy rating on Life360 shares with a 12-month price target of $51.

Codan Ltd (ASX: CDA) shares inched 0.58% higher to finish at $30.95 apiece on Friday.

Megaport Ltd (ASX: MP1) shares rose 5.68% to $14.89 after Citi issued a bullish note upgrading the tech stock to a buy.

The Siteminder Ltd (ASX: SDR) share price lifted 1.46% to $6.93.

Objective Corporation Ltd (ASX: OCL) shares fell 0.63% to $20.58 apiece.

The Catapult Sports Ltd (ASX: CAT) share price ripped 15.67% to $6.79 despite no news from the company last week.

Catapult Sports shares reached a new record high of $6.99 on Friday.

Dicker Data Ltd (ASX: DDR) shares lifted 1.55% to $9.84 apiece.

The Iress Ltd (ASX: IRE) share price slipped 0.11% to $9.12.

Macquarie Technology Group Ltd (ASX: MAQ) shares rose 3.68% to close at $61.70 on Friday.

Macquarie Tech is among 9 ASX shares being dumped from the benchmark ASX 200 index in the next rebalance.

The Data#3 Ltd (ASX: DTL) share price lifted 4.2% to $9.68 and reached an 18-month high of $9.74 on Friday.

Data#3 shares are among 23 ASX stocks going ex-dividend next week.

The company will pay a dividend of 15 cents per share on 30 September.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

S&P/ASX 200 market sectorChange last week
Information Technology (ASX: XIJ)2.7%
A-REIT (ASX: XPJ)1.82%
Utilities (ASX: XUJ)0.57%
Financials (ASX: XFJ)0.4%
Communication (ASX: XTJ)0.36%
Materials (ASX: XMJ)(0.1%)
Consumer Staples (ASX: XSJ)(0.27%)
Healthcare (ASX: XHJ)(0.81%)
Consumer Discretionary (ASX: XDJ)(1.07%)
Industrials (ASX: XNJ)(1.26%)
Energy (ASX: XEJ)(4.45%)

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Catapult Sports, Life360, Megaport, Objective, SiteMinder, Technology One, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Catapult Sports, Dicker Data, Objective, SiteMinder, WiseTech Global, and Xero. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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