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

Shares of Life360, Inc. (NASDAQ:LIF) gapped down before the market opened on Wednesday . The stock had previously closed at $46.74, but opened at $44.68. Life360 shares last traded at $44.3560, with a volume of 103,433 shares traded.

Analysts Set New Price Targets

Several research firms have commented on LIF. Macquarie Infrastructure assumed coverage on Life360 in a research report on Tuesday, April 28th. They issued an “outperform” rating and a $32.20 target price for the company. Bank of America raised their price target on shares of Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. UBS Group cut their price target on shares of Life360 from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Citigroup decreased their price objective on Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Life360 in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.72.

Life360 Trading Down 6.0%

The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 25.69 and a beta of 2.35. The firm’s 50-day moving average is $53.08 and its 200-day moving average is $47.95. The company has a current ratio of 5.60, a quick ratio of 5.46 and a debt-to-equity ratio of 0.51.

Life360 (NASDAQ:LIF) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Life360 had a net margin of 25.73% and a return on equity of 5.66%. The business had revenue of $158.96 million for the quarter, compared to analyst estimates of $156.68 million. As a group, sell-side analysts anticipate that Life360, Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Brit Morin sold 10,701 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $60.00, for a total value of $642,060.00. Following the completion of the sale, the director directly owned 20,157 shares of the company’s stock, valued at approximately $1,209,420. This represents a 34.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles J. Prober sold 7,930 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $48.59, for a total value of $385,318.70. Following the transaction, the director owned 109,930 shares in the company, valued at approximately $5,341,498.70. This trade represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 102,637 shares of company stock worth $5,394,265. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Life360

Several institutional investors have recently modified their holdings of LIF. Wilson Asset Management International PTY Ltd. raised its holdings in shares of Life360 by 108.6% during the fourth quarter. Wilson Asset Management International PTY Ltd. now owns 50,000 shares of the company’s stock worth $3,207,000 after purchasing an additional 26,028 shares during the period. California State Teachers Retirement System grew its holdings in shares of Life360 by 23.5% during the first quarter. California State Teachers Retirement System now owns 86,635 shares of the company’s stock valued at $3,536,000 after purchasing an additional 16,461 shares during the last quarter. Greenspring Advisors LLC acquired a new stake in shares of Life360 during the 4th quarter worth approximately $21,720,000. XY Capital Ltd acquired a new stake in shares of Life360 during the 4th quarter worth approximately $6,063,000. Finally, Milford Funds Ltd. bought a new stake in shares of Life360 in the 4th quarter worth approximately $9,604,000. 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.