Life360 (NASDAQ:LIF) Trading 8.3% Higher – Time to Buy?

Life360, Inc. (NASDAQ:LIF)’s stock price rose 8.3% during trading on Friday . The company traded as high as $52.66 and last traded at $52.9950. Approximately 202,870 shares were traded during trading, a decline of 82% from the average daily volume of 1,105,326 shares. The stock had previously closed at $48.94.

Wall Street Analysts Forecast Growth

LIF has been the subject of several research reports. DA Davidson lifted their target price on Life360 from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, June 22nd. Canaccord Genuity Group set a $72.00 price objective on Life360 in a research note on Tuesday, May 12th. Weiss Ratings downgraded shares of Life360 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Wall Street Zen lowered shares of Life360 from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, UBS Group dropped their target price on shares of Life360 from $75.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $64.17.

Life360 Stock Performance

The company has a quick ratio of 5.23, a current ratio of 5.37 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $44.65 and a 200 day simple moving average of $50.40. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 30.68 and a beta of 2.62.

Insider Buying and Selling

In related news, CEO Lauren Antonoff sold 2,716 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $45.23, for a total transaction of $122,844.68. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Chris Hulls sold 16,042 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $47.07, for a total value of $755,096.94. Following the transaction, the director owned 406,899 shares of the company’s stock, valued at approximately $19,152,735.93. The trade was a 3.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 79,102 shares of company stock worth $3,450,375. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Life360

Hedge funds and other institutional investors have recently modified their holdings of the company. Wilson Asset Management International PTY Ltd. lifted its position in Life360 by 108.6% in the 4th quarter. Wilson Asset Management International PTY Ltd. now owns 50,000 shares of the company’s stock valued at $3,207,000 after purchasing an additional 26,028 shares during the last quarter. Greenspring Advisors LLC bought a new position in Life360 in the 4th quarter worth about $21,720,000. XY Capital Ltd acquired a new stake in shares of Life360 in the fourth quarter valued at approximately $6,063,000. Hodges Capital Management Inc. increased its stake in shares of Life360 by 36.4% in the fourth quarter. Hodges Capital Management Inc. now owns 63,546 shares of the company’s stock valued at $4,076,000 after purchasing an additional 16,972 shares during the period. Finally, Milford Funds Ltd. bought a new stake in shares of Life360 during the fourth quarter valued at approximately $9,604,000. Institutional investors and hedge funds own 20.00% of the company’s stock.

Life360 Company Profile

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.