Life360, Inc. (NASDAQ:LIF) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Life360, Inc. (NASDAQ:LIF) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $59.94.

LIF has been the topic of a number of recent research reports. Citigroup reduced their target price on shares of Life360 from $66.65 to $60.10 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Morgan Stanley set a $65.20 price target on shares of Life360 in a report on Wednesday, August 12th. UBS Group cut their price objective on shares of Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. DA Davidson decreased their price objective on shares of Life360 from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, September 15th. Finally, Bank of America raised their target price on Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 16th.

Life360 Price Performance

LIF stock opened at $41.10 on Wednesday. The firm has a market cap of $3.35 billion, a P/E ratio of 24.04 and a beta of 2.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.46 and a current ratio of 5.60. Life360 has a 1 year low of $37.01 and a 1 year high of $112.54. The stock has a 50-day simple moving average of $47.91 and a 200-day simple moving average of $46.23.

Life360 (NASDAQ:LIF) last released its quarterly earnings results on Monday, August 10th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). Life360 had a return on equity of 5.66% and a net margin of 25.73%.The company had revenue of $158.96 million for the quarter, compared to analyst estimates of $156.68 million. On average, equities analysts predict that Life360 will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Brit Morin sold 10,701 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $60.00, for a total value of $642,060.00. Following the completion of the transaction, the director owned 20,157 shares of the company’s stock, valued at approximately $1,209,420. This represents a 34.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alex Haro sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $40.88, for a total value of $2,044,000.00. Following the sale, the director owned 1,010,303 shares of the company’s stock, valued at approximately $41,301,186.64. This trade represents a 4.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 398,860 shares of company stock valued at $18,916,805. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Life360

Several institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of Life360 by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 1,153,096 shares of the company’s stock worth $74,372,000 after buying an additional 85,857 shares during the last quarter. Norges Bank bought a new position in Life360 during the 4th quarter valued at $47,097,000. Principal Financial Group Inc. grew its holdings in Life360 by 455.0% during the 1st quarter. Principal Financial Group Inc. now owns 463,442 shares of the company’s stock worth $18,918,000 after acquiring an additional 379,941 shares in the last quarter. Bank of America Corp DE grew its holdings in Life360 by 312.8% during the 1st quarter. Bank of America Corp DE now owns 407,296 shares of the company’s stock worth $16,626,000 after acquiring an additional 308,632 shares in the last quarter. Finally, Greenspring Advisors LLC acquired a new position in Life360 during the 4th quarter worth $21,720,000. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

About Life360

Life360, Inc is a technology company that develops location-based safety and coordination services for families, friends and other groups. Its primary product is the Life360 mobile application, which provides location sharing, private messaging, driving safety tools, crash detection, roadside assistance and other features designed to help users stay connected and respond to safety-related events.

The company also offers connected-device products through its Tile and Jiobit brands. Tile develops Bluetooth-enabled item trackers and related services that help users locate personal belongings, while Jiobit provides compact GPS tracking devices and services.