Life360 (NASDAQ:LIF) Stock Price Target Lowered at Citigroup

Life360 (NASDAQ:LIF) had its price target lowered by Citigroup from $60.10 to $60.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Weiss Ratings raised Life360 from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, September 4th. Bank of America upped their price objective on Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 16th. DA Davidson reaffirmed a “neutral” rating and set a $40.00 target price on shares of Life360 in a report on Tuesday, September 29th. UBS Group dropped their price target 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. Finally, Wall Street Zen upgraded Life360 from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.93.

Life360 Stock Performance

Shares of LIF stock opened at $44.44 on Friday. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 25.99 and a beta of 2.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.46 and a current ratio of 5.60. The company has a 50-day simple moving average of $42.62 and a 200 day simple moving average of $47.26. Life360 has a 52 week low of $37.01 and a 52 week high of $99.99.

Life360 (NASDAQ:LIF) last released its quarterly earnings results on Monday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). Life360 had a net margin of 25.73% and a return on equity of 5.66%. The company had revenue of $158.96 million during the quarter, compared to the consensus estimate of $156.68 million. On average, sell-side analysts predict that Life360 will post 0.53 earnings per share for the current year.

Insider Buying and Selling at Life360

In other Life360 news, Director James Synge sold 27,466 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $44.31, for a total transaction of $1,217,018.46. Following the completion of the sale, the director directly owned 191,694 shares in the company, valued at $8,493,961.14. This represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alex Haro sold 50,000 shares of the firm’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $41.44, for a total value of $2,072,000.00. Following the completion of the sale, the director directly owned 1,010,303 shares in the company, valued at approximately $41,866,956.32. This represents a 4.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 456,790 shares of company stock worth $21,269,295 in the last three months. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Life360

Institutional investors have recently modified their holdings of the business. Vise Technologies Inc. acquired a new stake in shares of Life360 in the 3rd quarter valued at approximately $1,455,000. Sterling Capital Management LLC grew its holdings in shares of Life360 by 872.7% during the 3rd quarter. Sterling Capital Management LLC now owns 642 shares of the company’s stock valued at $26,000 after purchasing an additional 576 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Life360 during the 3rd quarter valued at approximately $1,531,000. Cim Investment Management Inc. acquired a new position in Life360 during the 2nd quarter worth approximately $222,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Life360 during the 2nd quarter worth approximately $317,000. Institutional investors and hedge funds own 20.00% of the company’s stock.

Life360 Company Profile

Life360, Inc is a technology company that develops connected safety and security products for families, individuals and pets. Its primary offering is the Life360 mobile application, which provides location sharing, family communication, driving safety tools, emergency assistance and other features intended to help users coordinate and stay connected.

The company also offers services such as crash detection, roadside assistance, SOS support and digital safety features. Through its ownership of Tile, Life360 provides Bluetooth-enabled finding devices and related tracking services for personal belongings.