Life360 (NASDAQ:LIF) Stock Gets Price Target Cut from Citigroup

Life360 (NASDAQ:LIF) had its target price decreased by Citigroup from $60.00 to $56.60 in a research report sent to investors on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Bank of America lowered shares of Life360 from a “buy” rating to a “neutral” rating and decreased their target price for the company from $60.00 to $45.00 in a research note on Wednesday. Wall Street Zen upgraded Life360 from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. UBS Group set a $45.00 target price on Life360 in a research report on Wednesday. Morgan Stanley set a $65.20 price target on Life360 in a research note on Wednesday, August 12th. Finally, Weiss Ratings raised Life360 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.56.

Life360 Stock Performance

Shares of NASDAQ LIF opened at $43.93 on Wednesday. The company has a quick ratio of 5.46, a current ratio of 5.31 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 23.62 and a beta of 2.17. The stock’s fifty day simple moving average is $42.92 and its 200 day simple moving average is $46.53. Life360 has a 52-week low of $37.01 and a 52-week high of $80.51.

Life360 (NASDAQ:LIF) last posted its quarterly earnings data on Monday, November 9th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $174.14 million during the quarter, compared to analyst estimates of $171.53 million. Life360 had a net margin of 25.71% and a return on equity of 7.21%. As a group, sell-side analysts forecast that Life360 will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Life360

In related news, Director Chris Hulls sold 250,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $46.84, for a total transaction of $11,710,000.00. Following the sale, the director directly owned 382,056 shares in the company, valued at $17,895,503.04. This represents a 39.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Prober sold 7,930 shares of the firm’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $43.29, for a total value of $343,289.70. Following the sale, the director directly owned 109,930 shares of the company’s stock, valued at $4,758,869.70. This represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 411,159 shares of company stock valued at $18,495,656. 6.80% of the stock is owned by company insiders.

Institutional Trading of Life360

Large investors have recently made changes to their positions in the business. Marshall Wace LLP acquired a new position in Life360 during the 3rd quarter worth $855,000. First Trust Advisors LP acquired a new stake in shares of Life360 during the 3rd quarter worth approximately $2,620,000. Advisors Asset Management Inc. bought a new stake in shares of Life360 during the third quarter worth approximately $112,000. Public Sector Pension Investment Board raised its stake in shares of Life360 by 25.4% during the third quarter. Public Sector Pension Investment Board now owns 349,032 shares of the company’s stock worth $14,944,000 after buying an additional 70,682 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Life360 by 7,290.9% in the third quarter. Global Retirement Partners LLC now owns 813 shares of the company’s stock valued at $33,000 after buying an additional 802 shares during the period. Institutional investors own 20.00% of the company’s stock.

About Life360

Life360 operates a family safety and location-sharing platform. Its mobile app helps families and other groups share locations, coordinate their activities and receive alerts about arrivals, departures and other events. The service also includes features such as driving insights, roadside assistance and emergency support. The company’s offerings include the Life360 app and Tile, its line of Bluetooth tracking devices and related services for finding everyday items. Together, these products provide location and safety tools for people, pets and belongings.