Life360 (NASDAQ:LIF) Sets New 12-Month High After Analyst Upgrade

Life360, Inc. (NASDAQ:LIF)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $86.00 to $90.00. Canaccord Genuity Group currently has a buy rating on the stock. Life360 traded as high as $84.02 and last traded at $83.55, with a volume of 2170760 shares. The stock had previously closed at $73.74.

Several other analysts also recently commented on LIF. Evercore ISI upped their price objective on Life360 from $55.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday. UBS Group reissued a “buy” rating and set a $85.00 target price (up from $71.00) on shares of Life360 in a research note on Tuesday. JMP Securities increased their target price on Life360 from $62.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Tuesday. Citigroup began coverage on Life360 in a research note on Thursday, July 31st. They set a “buy” rating and a $90.00 target price for the company. Finally, Wall Street Zen downgraded Life360 from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.43.

Insider Transactions at Life360

In other Life360 news, Director John Philip Coghlan sold 3,125 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $61.03, for a total value of $190,718.75. Following the transaction, the director directly owned 29,778 shares of the company’s stock, valued at $1,817,351.34. This trade represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles J. Prober sold 7,942 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $61.63, for a total value of $489,465.46. Following the completion of the transaction, the director directly owned 105,456 shares in the company, valued at $6,499,253.28. This trade represents a 7.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,793 shares of company stock valued at $7,156,984. Corporate insiders own 8.00% of the company’s stock.

Institutional Trading of Life360

Several large investors have recently modified their holdings of the business. California State Teachers Retirement System increased its holdings in Life360 by 0.4% in the second quarter. California State Teachers Retirement System now owns 61,697 shares of the company’s stock valued at $4,026,000 after buying an additional 254 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Life360 in the second quarter valued at about $137,000. Maverick Capital Ltd. bought a new stake in Life360 in the second quarter valued at about $3,358,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Life360 by 42.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,814 shares of the company’s stock valued at $575,000 after buying an additional 2,639 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Life360 by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,127 shares of the company’s stock valued at $1,379,000 after buying an additional 343 shares during the last quarter. 20.00% of the stock is currently owned by institutional investors and hedge funds.

Life360 Stock Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 7.14 and a quick ratio of 3.25. The stock has a market capitalization of $6.62 billion, a P/E ratio of 266.66 and a beta of 3.46. The company has a fifty day moving average of $69.30 and a two-hundred day moving average of $53.52.

Life360 (NASDAQ:LIF) last issued its earnings results on Monday, August 11th. The company reported $0.08 EPS for the quarter, beating 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 company had revenue of $115.38 million during the quarter, compared to the consensus estimate of $109.33 million. On average, equities analysts anticipate that Life360, Inc. will post -0.17 EPS for the current year.

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.