Life360’s (LIF) Buy Rating Reiterated at UBS Group

UBS Group reaffirmed their buy rating on shares of Life360 (NASDAQ:LIF) in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $85.00 price objective on the stock, up from their previous price objective of $71.00.

LIF has been the subject of several other research reports. Evercore ISI upped their price target on shares of Life360 from $55.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday. Stifel Nicolaus upped their price target on shares of Life360 from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday. Canaccord Genuity Group upped their price target on shares of Life360 from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, July 28th. JMP Securities upped their price target on shares of Life360 from $62.00 to $95.00 and gave the company a “market outperform” rating in a research report on Tuesday. Finally, Loop Capital increased their target price on shares of Life360 from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.43.

Life360 Price Performance

Shares of NASDAQ:LIF opened at $85.33 on Tuesday. Life360 has a fifty-two week low of $29.62 and a fifty-two week high of $89.80. The business has a 50-day simple moving average of $69.30 and a two-hundred day simple moving average of $53.52. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.25 and a current ratio of 7.14. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 266.66 and a beta of 3.46.

Life360 (NASDAQ:LIF) last issued its earnings results on Monday, August 11th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. Life360 had a return on equity of 7.65% and a net margin of 6.45%. The business had revenue of $115.38 million during the quarter, compared to analyst estimates of $109.33 million. On average, analysts expect that Life360 will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other Life360 news, CFO Russell John Burke sold 3,104 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $75.87, for a total value of $235,500.48. Following the completion of the transaction, the chief financial officer directly owned 196,418 shares in the company, valued at $14,902,233.66. This represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Lauren Antonoff sold 4,546 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $75.69, for a total value of $344,086.74. Following the completion of the transaction, the chief operating officer owned 307,778 shares of the company’s stock, valued at $23,295,716.82. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,793 shares of company stock worth $7,156,984 in the last ninety days. Corporate insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LIF. Vanguard Group Inc. boosted its stake in Life360 by 3,865.6% in the 1st quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company’s stock worth $218,194,000 after purchasing an additional 5,540,302 shares during the period. Norges Bank bought a new position in Life360 in the 2nd quarter worth approximately $60,369,000. Bank of New York Mellon Corp boosted its stake in Life360 by 320.0% in the 1st quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company’s stock worth $21,087,000 after purchasing an additional 418,493 shares during the period. Federated Hermes Inc. boosted its stake in Life360 by 661.6% in the 2nd quarter. Federated Hermes Inc. now owns 371,461 shares of the company’s stock worth $24,238,000 after purchasing an additional 322,688 shares during the period. Finally, Marshall Wace LLP boosted its stake in Life360 by 86.2% in the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company’s stock worth $16,975,000 after purchasing an additional 190,422 shares during the period. 20.00% of the stock is currently owned by institutional investors.

About Life360

Life360 Inc is a family connection and safety company. Its business category includes mobile app and Tile tracking devices with a range of services, including location sharing, safe driver reports and crash detection with emergency dispatch. Life360 Inc is based in SAN FRANCISCO.