Life360 (NASDAQ:LIF) Shares Down 6.1% – What’s Next?

Life360, Inc. (NASDAQ:LIF)’s stock price dropped 6.1% on Tuesday . The stock traded as low as $61.82 and last traded at $61.97. Approximately 481,252 shares changed hands during trading, a decline of 55% from the average daily volume of 1,060,270 shares. The stock had previously closed at $65.98.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LIF shares. Stifel Nicolaus cut their target price on shares of Life360 from $92.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday. Citigroup reiterated a “buy” rating on shares of Life360 in a report on Tuesday. Canaccord Genuity Group restated a “buy” rating and issued a $115.00 price objective on shares of Life360 in a report on Tuesday, December 16th. UBS Group lowered their target price on Life360 from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Citizens Jmp lowered Life360 from a “market outperform” rating to a “market perform” rating in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.31.

Life360 Stock Down 5.4%

The company has a quick ratio of 6.62, a current ratio of 6.80 and a debt-to-equity ratio of 0.79. The stock’s 50-day simple moving average is $66.68 and its 200 day simple moving average is $81.34. The firm has a market cap of $4.62 billion, a P/E ratio of 173.26 and a beta of 3.79.

Life360 (NASDAQ:LIF) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $124.50 million for the quarter, compared to the consensus estimate of $119.26 million. Life360 had a return on equity of 7.95% and a net margin of 6.46%. As a group, research analysts forecast that Life360, Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity at Life360

In related news, Director Alex Haro sold 100,000 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $76.45, for a total transaction of $7,645,000.00. Following the transaction, the director directly owned 861,315 shares of the company’s stock, valued at $65,847,531.75. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chris Hulls sold 311,749 shares of Life360 stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $77.10, for a total transaction of $24,035,847.90. Following the completion of the sale, the director directly owned 469,749 shares of the company’s stock, valued at approximately $36,217,647.90. This trade represents a 39.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 608,476 shares of company stock worth $46,751,979 over the last ninety days. 8.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Life360

A number of institutional investors and hedge funds have recently made changes to their positions in LIF. Janney Montgomery Scott LLC bought a new position in shares of Life360 in the second quarter valued at approximately $344,000. Wilson Asset Management International PTY Ltd. boosted its position in Life360 by 11.2% in the second quarter. Wilson Asset Management International PTY Ltd. now owns 69,975 shares of the company’s stock worth $4,566,000 after purchasing an additional 7,043 shares during the last quarter. Castleark Management LLC bought a new position in Life360 in the 2nd quarter valued at $5,518,000. Permanent Capital Management LP purchased a new stake in shares of Life360 during the 3rd quarter valued at $2,290,000. Finally, Federated Hermes Inc. raised its stake in shares of Life360 by 661.6% during the 2nd quarter. Federated Hermes Inc. now owns 371,461 shares of the company’s stock worth $24,238,000 after purchasing an additional 322,688 shares during the period. Institutional investors and hedge funds own 20.00% of the company’s stock.

Life360 Company Profile

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.