Loop Capital Raises Life360 (NASDAQ:LIF) Price Target to $58.00

Life360 (NASDAQ:LIF) had its price objective upped by analysts at Loop Capital from $52.00 to $58.00 in a research note issued on Tuesday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential downside of 0.46% from the stock’s previous close.

A number of other research analysts have also commented on the company. Stifel Nicolaus decreased their price objective on Life360 from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. UBS Group raised Life360 from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $55.00 in a report on Friday, January 17th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Life360 currently has a consensus rating of “Buy” and a consensus target price of $49.50.

Life360 Price Performance

LIF stock opened at $58.27 on Tuesday. Life360 has a 1-year low of $26.00 and a 1-year high of $62.64. The business’s 50 day simple moving average is $40.14 and its 200 day simple moving average is $42.93.

Life360 (NASDAQ:LIF) last posted its earnings results on Monday, May 12th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The business had revenue of $103.62 million for the quarter, compared to analyst estimates of $101.48 million. Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. As a group, analysts anticipate that Life360 will post -0.17 earnings per share for the current fiscal year.

Insider Transactions at Life360

In other news, Director Charles J. Prober sold 50,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $41.52, for a total transaction of $2,076,000.00. Following the sale, the director now directly owns 102,742 shares of the company’s stock, valued at approximately $4,265,847.84. This represents a 32.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Philip Coghlan sold 3,125 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $43.30, for a total value of $135,312.50. Following the sale, the director now directly owns 32,903 shares in the company, valued at approximately $1,424,699.90. This trade represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,881 shares of company stock valued at $7,220,851. 8.00% of the stock is owned by corporate insiders.

Institutional Trading of Life360

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Life360 by 3,865.6% during the 1st quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company’s stock worth $218,194,000 after buying an additional 5,540,302 shares during the last quarter. Millennium Management LLC lifted its position in shares of Life360 by 9.2% during the 4th quarter. Millennium Management LLC now owns 1,114,922 shares of the company’s stock worth $46,013,000 after buying an additional 94,077 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Life360 by 320.0% during the 1st quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company’s stock worth $21,087,000 after buying an additional 418,493 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Life360 by 402.9% during the 4th quarter. Franklin Resources Inc. now owns 539,592 shares of the company’s stock worth $22,269,000 after buying an additional 432,292 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Life360 by 86.2% during the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company’s stock worth $16,975,000 after buying an additional 190,422 shares during the last quarter. 20.00% of the stock is owned by institutional investors and hedge funds.

Life360 Company Profile

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.