Life360 (NASDAQ:LIF) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Life360 (NASDAQ:LIF) from a hold rating to a sell rating in a report published on Saturday morning.

A number of other brokerages have also recently weighed in on LIF. Citigroup reduced their price target on shares of Life360 from $68.50 to $68.30 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Stifel Nicolaus dropped their price objective on shares of Life360 from $92.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, January 27th. Canaccord Genuity Group set a $72.00 target price on shares of Life360 in a research note on Tuesday. Bank of America initiated coverage on shares of Life360 in a research note on Wednesday, April 22nd. They issued a “buy” rating and a $60.00 target price for the company. Finally, Evercore set a $68.00 target price on shares of Life360 in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.94.

Life360 Trading Down 3.8%

Shares of NASDAQ LIF opened at $38.53 on Friday. The company’s fifty day moving average is $42.38 and its 200-day moving average is $58.18. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 22.27 and a beta of 2.81. Life360 has a twelve month low of $37.01 and a twelve month high of $112.54. The company has a quick ratio of 6.16, a current ratio of 5.37 and a debt-to-equity ratio of 0.52.

Insider Activity at Life360

In related news, Director Chris Hulls sold 16,105 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $45.51, for a total value of $732,938.55. Following the completion of the transaction, the director directly owned 399,809 shares of the company’s stock, valued at approximately $18,195,307.59. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Lauren Antonoff sold 17,153 shares of Life360 stock in a transaction on Friday, March 6th. The shares were sold at an average price of $44.86, for a total transaction of $769,483.58. Following the completion of the sale, the chief executive officer owned 288,232 shares in the company, valued at $12,930,087.52. The trade was a 5.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 67,037 shares of company stock valued at $2,859,432 in the last quarter. 8.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Life360

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. increased its stake in Life360 by 158.4% in the 3rd quarter. Citigroup Inc. now owns 749,569 shares of the company’s stock valued at $79,679,000 after buying an additional 459,463 shares during the last quarter. Wilson Asset Management International PTY Ltd. increased its stake in Life360 by 108.6% in the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 50,000 shares of the company’s stock valued at $3,207,000 after buying an additional 26,028 shares during the last quarter. Vanguard Group Inc. increased its stake in Life360 by 18.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,271,920 shares of the company’s stock valued at $879,305,000 after buying an additional 1,260,236 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Life360 in the 3rd quarter valued at $5,762,000. Finally, Mizuho Markets Americas LLC acquired a new stake in Life360 in the 3rd quarter valued at $12,015,000. 20.00% of the stock is currently owned by institutional investors and hedge funds.

About Life360

Life360, Inc (NASDAQ: LIF) operates a location-based safety and communication platform designed to help families stay connected and secure. Through its flagship mobile application, Life360 offers real-time location sharing, check-in alerts and geofencing tools that enable users to monitor the whereabouts of family members or other trusted circles. The company’s services extend to emergency response features, including SOS alerts, 24/7 roadside assistance and crash detection capabilities powered by machine-learning algorithms, all aimed at enhancing user safety on the road and at home.

The Life360 platform is offered under a freemium model, with a basic no-cost tier providing essential location sharing and alerts.