Life360 (NASDAQ:LIF) Given New $68.30 Price Target at Citigroup

Life360 (NASDAQ:LIF) had its price target lowered by investment analysts at Citigroup from $68.50 to $68.30 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 62.13% from the stock’s current price.

LIF has been the subject of several other reports. Wall Street Zen lowered shares of Life360 from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Citizens Jmp lowered shares of Life360 from a “market outperform” rating to a “market perform” rating in a report on Monday, January 5th. Canaccord Genuity Group reduced their target price on shares of Life360 from $115.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Life360 in a report on Friday, March 27th. Finally, DA Davidson lowered shares of Life360 from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $70.00 to $40.00 in a report on Thursday, March 19th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.16.

Life360 Stock Performance

Life360 stock traded down $1.84 during midday trading on Thursday, hitting $42.13. The stock had a trading volume of 476,457 shares, compared to its average volume of 1,345,682. The firm’s fifty day moving average is $46.87 and its two-hundred day moving average is $68.24. The company has a market capitalization of $3.38 billion, a PE ratio of 24.01 and a beta of 3.90. Life360 has a 52-week low of $32.71 and a 52-week high of $112.54. The company has a current ratio of 6.26, a quick ratio of 6.16 and a debt-to-equity ratio of 0.57.

Insiders Place Their Bets

In other Life360 news, CEO Lauren Antonoff sold 17,153 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $44.86, for a total value of $769,483.58. Following the completion of the transaction, the chief executive officer directly owned 288,232 shares in the company, valued at $12,930,087.52. This represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Chris Hulls sold 15,133 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $39.43, for a total value of $596,694.19. Following the completion of the transaction, the director owned 334,319 shares of the company’s stock, valued at $13,182,198.17. The trade was a 4.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 44,216 shares of company stock valued at $2,022,959. 8.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. boosted its stake in Life360 by 824.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 268 shares of the company’s stock worth $28,000 after purchasing an additional 239 shares during the period. NewEdge Advisors LLC bought a new position in shares of Life360 during the 3rd quarter valued at approximately $32,000. CWM LLC boosted its position in shares of Life360 by 71.4% during the 3rd quarter. CWM LLC now owns 384 shares of the company’s stock valued at $41,000 after acquiring an additional 160 shares during the last quarter. Strive Financial Group LLC bought a new position in shares of Life360 during the 4th quarter valued at approximately $26,000. Finally, IFP Advisors Inc bought a new position in shares of Life360 during the 3rd quarter valued at approximately $47,000. 20.00% of the stock is currently owned by institutional investors.

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.