Life360 (NASDAQ:LIF) Stock Price Down 5.2% – Should You Sell?

Life360, Inc. (NASDAQ:LIF)’s stock price fell 5.2% during mid-day trading on Monday. The stock traded as low as $44.96 and last traded at $44.9150. 78,107 shares traded hands during trading, a decline of 92% from the average daily volume of 932,245 shares. The stock had previously closed at $47.37.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America increased their price target on Life360 from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Weiss Ratings raised Life360 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Morgan Stanley set a $65.20 price objective on Life360 in a report on Wednesday, August 12th. DA Davidson reaffirmed a “neutral” rating and issued a $40.00 price objective on shares of Life360 in a research report on Tuesday, September 29th. Finally, Citigroup reduced their target price on Life360 from $60.10 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.93.

Life360 Price Performance

The firm has a market capitalization of $3.54 billion, a P/E ratio of 25.49 and a beta of 2.17. The stock’s 50 day simple moving average is $42.84 and its 200 day simple moving average is $46.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.46 and a current ratio of 5.60.

Life360 (NASDAQ:LIF) last posted 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). The company had revenue of $158.96 million for the quarter, compared to the consensus estimate of $156.68 million. Life360 had a net margin of 25.73% and a return on equity of 5.66%. As a group, analysts expect that Life360, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Life360 news, Director Charles Prober sold 7,930 shares of Life360 stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $43.29, for a total transaction of $343,289.70. Following the completion of the sale, the director directly owned 109,930 shares of the company’s stock, valued at $4,758,869.70. The trade was a 6.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Chris Hulls sold 250,000 shares of Life360 stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $46.84, for a total value of $11,710,000.00. Following the sale, the director directly owned 382,056 shares of the company’s stock, valued at approximately $17,895,503.04. This trade represents a 39.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 419,089 shares of company stock valued at $18,880,975 over the last 90 days. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Life360

Hedge funds and other institutional investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System raised its holdings in shares of Life360 by 54.6% in the third quarter. Maryland State Retirement & Pension System now owns 18,270 shares of the company’s stock valued at $736,000 after acquiring an additional 6,450 shares in the last quarter. Vise Technologies Inc. purchased a new stake in Life360 in the third quarter worth about $1,455,000. Sterling Capital Management LLC grew its holdings in Life360 by 872.7% during the 3rd quarter. Sterling Capital Management LLC now owns 642 shares of the company’s stock worth $26,000 after acquiring an additional 576 shares in the last quarter. Root Financial Partners LLC bought a new position in Life360 during the 3rd quarter worth about $1,531,000. Finally, Cim Investment Management Inc. bought a new position in Life360 during the 2nd quarter worth about $222,000. Institutional investors own 20.00% of the company’s stock.

Life360 Company Profile

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.

Founded in 2008, Life360 serves users in markets around the world, including North America, Europe and the Asia-Pacific region.