Life360 (NASDAQ:LIF) Shares Down 4.4% – Should You Sell?

Life360, Inc. (NASDAQ:LIF)’s stock price was down 4.4% during mid-day trading on Tuesday. The company traded as low as $42.06 and last traded at $42.1010. Approximately 53,117 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 945,772 shares. The stock had previously closed at $44.02.

Analysts Set New Price Targets

Several analysts have recently weighed in on LIF shares. Bank of America boosted their price objective on shares of Life360 from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Life360 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. UBS Group lowered their price objective on Life360 from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Morgan Stanley set a $65.20 price target on shares of Life360 in a research note on Wednesday, August 12th. Finally, Citigroup reduced their price objective on shares of Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Life360 Price Performance

The business has a fifty day simple moving average of $42.60 and a 200-day simple moving average of $47.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.46 and a current ratio of 5.60. The stock has a market capitalization of $3.60 billion, a P/E ratio of 25.85 and a beta of 2.27.

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

Insider Transactions at Life360

In related news, Director Alex Haro sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $41.44, for a total value of $2,072,000.00. Following the sale, the director directly owned 1,010,303 shares in the company, valued at $41,866,956.32. The trade was a 4.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Chris Hulls sold 250,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $46.84, for a total value of $11,710,000.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders sold 456,790 shares of company stock valued at $21,269,295 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Life360

A number of hedge funds have recently modified their holdings of LIF. GAMMA Investing LLC boosted its position in Life360 by 44.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,861 shares of the company’s stock valued at $103,000 after purchasing an additional 569 shares during the period. Sterling Capital Management LLC boosted its holdings in Life360 by 872.7% in the 3rd quarter. Sterling Capital Management LLC now owns 642 shares of the company’s stock valued at $26,000 after purchasing an additional 576 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Life360 by 2.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 25,300 shares of the company’s stock worth $1,401,000 after purchasing an additional 600 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Life360 by 85.5% in the 1st quarter. Royal Bank of Canada now owns 2,059 shares of the company’s stock worth $84,000 after buying an additional 949 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in Life360 by 13.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,326 shares of the company’s stock valued at $462,000 after purchasing an additional 1,323 shares during the period. Institutional investors own 20.00% of the company’s stock.

Life360 Company Profile

Life360, Inc is a technology company that develops connected safety and security products for families, individuals and pets. Its primary offering is the Life360 mobile application, which provides location sharing, family communication, driving safety tools, emergency assistance and other features intended to help users coordinate and stay connected.

The company also offers services such as crash detection, roadside assistance, SOS support and digital safety features. Through its ownership of Tile, Life360 provides Bluetooth-enabled finding devices and related tracking services for personal belongings.