Life360 (NASDAQ:LIF) Stock Rating Reaffirmed as “Neutral” by DA Davidson

Life360 (NASDAQ:LIF – Get Free Report)‘s stock had its “neutral” rating reissued by stock analysts at DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $40.00 price target on the stock. DA Davidson’s price target points to a potential upside of 0.28% from the stock’s current price.

LIF has been the subject of a number of other research reports. Morgan Stanley set a $65.20 price target on shares of Life360 in a report on Wednesday, August 12th. Bank of America upped their price objective on shares of Life360 from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of Life360 from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Citigroup lowered their price objective on shares of Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, UBS Group lowered their price objective on shares of Life360 from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Check Out Our Latest Stock Report on Life360

Life360 Stock Performance

NASDAQ LIF traded down $0.09 during trading on Tuesday, reaching $39.89. The company’s stock had a trading volume of 249,526 shares, compared to its average volume of 982,691. The company has a current ratio of 5.60, a quick ratio of 5.46 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 23.33 and a beta of 2.24. Life360 has a 12 month low of $37.01 and a 12 month high of $112.54. The firm has a 50 day moving average price of $47.63 and a 200 day moving average price of $46.18.

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

Insider Transactions at Life360

In other Life360 news, Director Alex Haro sold 50,000 shares of the company’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 completion of the transaction, the director directly owned 1,010,303 shares in the company, valued at approximately $41,301,186.64. This represents a 4.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Chris Hulls sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $46.84, for a total transaction of $11,710,000.00. Following the completion of the transaction, the director owned 382,056 shares of the company’s stock, valued at approximately $17,895,503.04. This trade represents a 39.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 398,860 shares of company stock worth $18,916,805. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Life360

Several institutional investors and hedge funds have recently added to or reduced their stakes in LIF. Norges Bank acquired a new stake in shares of Life360 during the fourth quarter worth $47,097,000. Principal Financial Group Inc. increased its position in shares of Life360 by 455.0% during the first quarter. Principal Financial Group Inc. now owns 463,442 shares of the company’s stock worth $18,918,000 after buying an additional 379,941 shares during the period. Greenspring Advisors LLC acquired a new stake in shares of Life360 during the fourth quarter worth $21,720,000. Bank of America Corp DE increased its position in shares of Life360 by 312.8% during the first quarter. Bank of America Corp DE now owns 407,296 shares of the company’s stock worth $16,626,000 after buying an additional 308,632 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Life360 during the second quarter worth $15,547,000. 20.00% of the stock is currently owned by institutional investors and hedge funds.

About Life360

(Get Free Report)

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.

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Analyst Recommendations for Life360 (NASDAQ:LIF)

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