Life360’s (LIF) Neutral Rating Reaffirmed at DA Davidson

Life360 (NASDAQ:LIF)‘s stock had its “neutral” rating reissued by research analysts at DA Davidson in a research note issued on Tuesday, Benzinga reports. They currently have a $40.00 target price on the stock. DA Davidson’s target price would suggest a potential downside of 6.04% from the stock’s previous close.

LIF has been the subject of a number of other research reports. Citigroup reduced their target price on Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a report on Thursday, August 13th. Bank of America boosted their price objective on shares of Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of Life360 from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Morgan Stanley set a $65.20 target price on Life360 in a report on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Life360 from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Life360 presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Life360 Stock Down 1.2%

Shares of Life360 stock traded down $0.53 during trading hours on Tuesday, hitting $42.57. The company had a trading volume of 152,037 shares, compared to its average volume of 976,285. The company has a market cap of $3.47 billion, a P/E ratio of 25.02 and a beta of 2.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.60 and a quick ratio of 5.46. Life360 has a twelve month low of $37.01 and a twelve month high of $112.54. The company’s 50-day moving average is $46.80 and its two-hundred day moving average is $46.15.

Life360 (NASDAQ:LIF) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.06 earnings per share 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 firm had revenue of $158.96 million during the quarter, compared to analysts’ expectations of $156.68 million. Analysts anticipate that Life360 will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In other Life360 news, Director James Synge sold 27,466 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $44.31, for a total transaction of $1,217,018.46. Following the sale, the director directly owned 191,694 shares of the company’s stock, valued at $8,493,961.14. The trade was a 12.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chris Hulls sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $46.84, for a total transaction of $11,710,000.00. Following the completion of the transaction, the director owned 382,056 shares in the company, valued at approximately $17,895,503.04. This represents a 39.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 394,860 shares of company stock worth $18,692,525. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Life360

A number of hedge funds and other institutional investors have recently made changes to their positions in LIF. Norges Bank acquired a new stake in Life360 in the fourth quarter worth about $47,097,000. Principal Financial Group Inc. boosted its position in shares of Life360 by 455.0% during the first quarter. Principal Financial Group Inc. now owns 463,442 shares of the company’s stock worth $18,918,000 after purchasing an additional 379,941 shares in the last quarter. Greenspring Advisors LLC acquired a new position in Life360 in the fourth quarter valued at about $21,720,000. Bank of America Corp DE raised its holdings in Life360 by 312.8% during the 1st quarter. Bank of America Corp DE now owns 407,296 shares of the company’s stock worth $16,626,000 after buying an additional 308,632 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Life360 in the 2nd quarter valued at $15,547,000. 20.00% of the stock is owned by institutional investors.

About Life360

Life360, Inc is a technology company that develops products designed to help families and groups stay connected, coordinate activities and improve personal safety. Its flagship Life360 mobile application provides location sharing, communication tools, driving-related features, emergency assistance and other services intended for family and community use.

The company also operates Tile, a brand of Bluetooth-enabled item-finding devices and related software that helps users locate keys, luggage, electronics and other belongings.