Life360’s (LIF) Neutral Rating Reiterated at DA Davidson

Life360 (NASDAQ:LIF)‘s stock had its “neutral” rating reissued by stock analysts at DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $40.00 target price on the stock. DA Davidson’s target price would indicate a potential upside of 0.93% from the company’s current price.

Several other brokerages also recently commented on LIF. Stifel Nicolaus dropped their price target on Life360 from $92.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, January 27th. Canaccord Genuity Group set a $72.00 price objective on shares of Life360 in a research note on Tuesday. UBS Group reduced their price target on shares of Life360 from $75.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday. Wall Street Zen downgraded shares of Life360 from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Evercore set a $68.00 target price on Life360 in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.94.

Life360 Stock Performance

Shares of NASDAQ:LIF traded up $1.01 during midday trading on Wednesday, hitting $39.63. The company’s stock had a trading volume of 661,699 shares, compared to its average volume of 1,232,203. The company has a debt-to-equity ratio of 0.57, a quick ratio of 6.16 and a current ratio of 6.26. The stock’s 50 day simple moving average is $42.85 and its 200 day simple moving average is $59.07. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 22.84 and a beta of 2.81. Life360 has a fifty-two week low of $37.01 and a fifty-two week high of $112.54.

Insider Activity

In other news, Director John Philip Coghlan sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $41.32, for a total transaction of $165,280.00. Following the completion of the sale, the director owned 36,431 shares of the company’s stock, valued at approximately $1,505,328.92. This trade represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lauren Antonoff sold 17,153 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $44.86, for a total value of $769,483.58. Following the sale, the chief executive officer directly owned 288,232 shares of the company’s stock, valued at $12,930,087.52. This represents a 5.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 67,037 shares of company stock valued at $2,859,432 in the last ninety days.

Institutional Investors Weigh In On Life360

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Life360 by 18.0% in the third quarter. Vanguard Group Inc. now owns 8,271,920 shares of the company’s stock valued at $879,305,000 after purchasing an additional 1,260,236 shares in the last quarter. Geode Capital Management LLC raised its holdings in Life360 by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 1,153,096 shares of the company’s stock worth $74,372,000 after buying an additional 85,857 shares during the period. State Street Corp grew its stake in Life360 by 17.3% in the fourth quarter. State Street Corp now owns 905,153 shares of the company’s stock valued at $58,057,000 after purchasing an additional 133,722 shares in the last quarter. Franklin Resources Inc. grew its stake in Life360 by 86.3% in the 3rd quarter. Franklin Resources Inc. now owns 760,122 shares of the company’s stock valued at $80,801,000 after buying an additional 352,110 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Life360 by 158.4% during the third quarter. Citigroup Inc. now owns 749,569 shares of the company’s stock worth $79,679,000 after purchasing an additional 459,463 shares during the period. 20.00% of the stock is owned by institutional investors and hedge funds.

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.