Life360 (NASDAQ:LIF) Stock Price Down 6.3% – Here’s What Happened

Life360, Inc. (NASDAQ:LIF) shares traded down 6.3% during mid-day trading on Tuesday . The company traded as low as $54.19 and last traded at $53.9620. 73,637 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 1,106,967 shares. The stock had previously closed at $57.58.

Analyst Ratings Changes

LIF has been the topic of a number of recent research reports. Citigroup reiterated a “buy” rating on shares of Life360 in a report on Monday, June 8th. Wall Street Zen lowered shares of Life360 from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Evercore set a $68.00 price objective on shares of Life360 in a report on Tuesday, May 12th. Finally, Macquarie Infrastructure began coverage on shares of Life360 in a research report on Tuesday, April 28th. They set an “outperform” rating and a $32.20 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $64.17.

Life360 Trading Down 5.2%

The firm’s fifty day moving average is $44.89 and its two-hundred day moving average is $50.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.37 and a quick ratio of 5.23. The firm has a market capitalization of $4.42 billion, a PE ratio of 31.53 and a beta of 2.63.

Insiders Place Their Bets

In other news, Director Charles J. Prober sold 7,930 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $37.27, for a total transaction of $295,551.10. Following the completion of the sale, the director directly owned 105,456 shares of the company’s stock, valued at $3,930,345.12. This trade represents a 6.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Philip Coghlan sold 4,000 shares of Life360 stock in a transaction on Monday, June 1st. The stock was sold at an average price of $43.99, for a total value of $175,960.00. Following the sale, the director owned 28,431 shares in the company, valued at $1,250,679.69. The trade was a 12.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 79,102 shares of company stock worth $3,450,375 over the last 90 days. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 85,857 shares during the last quarter. State Street Corp grew its stake in Life360 by 17.3% during the fourth quarter. State Street Corp now owns 905,153 shares of the company’s stock valued at $58,057,000 after acquiring an additional 133,722 shares in the last quarter. Franklin Resources Inc. increased its holdings in Life360 by 86.3% during the 3rd quarter. Franklin Resources Inc. now owns 760,122 shares of the company’s stock worth $80,801,000 after acquiring an additional 352,110 shares during the period. Norges Bank purchased a new stake in Life360 in the 4th quarter worth approximately $47,097,000. Finally, Federated Hermes Inc. boosted its holdings in Life360 by 31.7% in the 4th quarter. Federated Hermes Inc. now owns 588,182 shares of the company’s stock valued at $37,726,000 after purchasing an additional 141,438 shares during the period. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

About Life360

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.