Life360 (NASDAQ:LIF) Trading Down 6.3% – Here’s Why

Life360, Inc. (NASDAQ:LIF)’s share price fell 6.3% during trading on Tuesday . The stock traded as low as $54.19 and last traded at $53.9620. Approximately 73,637 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,106,967 shares. The stock had previously closed at $57.58.

Analyst Ratings Changes

Several analysts recently weighed in on LIF shares. UBS Group dropped their price target on Life360 from $75.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Wall Street Zen cut Life360 from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Evercore set a $68.00 target price on Life360 in a report on Tuesday, May 12th. Macquarie Infrastructure started coverage on shares of Life360 in a research report on Tuesday, April 28th. They issued an “outperform” rating and a $32.20 target price for the company. Finally, Canaccord Genuity Group set a $72.00 price target on shares of Life360 in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.17.

Life360 Trading Down 5.2%

The stock has a market capitalization of $4.42 billion, a P/E ratio of 31.53 and a beta of 2.63. The company has a current ratio of 5.37, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $44.89 and a two-hundred day moving average price of $50.13.

Insider Buying and Selling

In related news, Director John Philip Coghlan sold 4,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $43.99, for a total transaction of $175,960.00. Following the completion of the sale, the director owned 28,431 shares of the company’s stock, valued at $1,250,679.69. This represents a 12.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lauren Antonoff sold 2,716 shares of the stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $45.23, for a total transaction of $122,844.68. Following the sale, the chief executive officer owned 309,781 shares in the company, valued at $14,011,394.63. The trade was a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 79,102 shares of company stock worth $3,450,375 in the last ninety days. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LIF. Norges Bank bought a new stake in Life360 during the fourth quarter worth $47,097,000. American Century Companies Inc. acquired a new position in shares of Life360 during the 3rd quarter worth $44,632,000. Principal Financial Group Inc. raised its holdings in shares of Life360 by 455.0% during the 1st quarter. Principal Financial Group Inc. now owns 463,442 shares of the company’s stock worth $18,918,000 after buying an additional 379,941 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of 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 buying an additional 352,110 shares in the last quarter. Finally, Greenspring Advisors LLC bought a new stake in shares of Life360 during the 4th quarter worth $21,720,000. 20.00% of the stock is owned by 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.