DA Davidson Reaffirms Neutral Rating for Life360 (NASDAQ:LIF)

Life360 (NASDAQ:LIF)‘s stock had its “neutral” rating reaffirmed by research analysts at DA Davidson in a report issued on Tuesday, Benzinga reports. They currently have a $40.00 target price on the stock. DA Davidson’s price objective would suggest a potential downside of 0.80% from the company’s previous close.

A number of other research firms have also recently commented on LIF. Citigroup reduced their price target on Life360 from $66.65 to $60.10 and set a “buy” rating for the company in a report on Thursday, August 13th. Wall Street Zen upgraded Life360 from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Weiss Ratings raised shares of Life360 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. 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. Finally, UBS Group decreased their price target on Life360 from $64.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Life360 Trading Up 0.9%

NASDAQ LIF traded up $0.34 during trading hours on Tuesday, hitting $40.32. The company’s stock had a trading volume of 290,400 shares, compared to its average volume of 982,908. The stock has a fifty day moving average of $47.63 and a 200 day moving average of $46.18. The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $3.29 billion, a P/E ratio of 23.56 and a beta of 2.24. Life360 has a twelve month low of $37.01 and a twelve month high of $112.54.

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 firm had revenue of $158.96 million for the quarter, compared to analyst estimates of $156.68 million. Equities research analysts forecast that Life360 will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Life360

In other Life360 news, Director Chris Hulls sold 250,000 shares of the stock in a transaction 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 sale, the director owned 382,056 shares of the company’s stock, valued at $17,895,503.04. This represents a 39.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles Prober sold 7,930 shares of Life360 stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $48.59, for a total transaction of $385,318.70. Following the sale, the director directly owned 109,930 shares in the company, valued at $5,341,498.70. The trade was a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 398,860 shares of company stock valued at $18,916,805. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Life360

Several large investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. bought a new stake in Life360 in the second quarter worth $317,000. Nykredit A S purchased a new stake in Life360 during the 2nd quarter valued at about $126,000. Amundi boosted its position in shares of Life360 by 156.5% during the second quarter. Amundi now owns 12,969 shares of the company’s stock valued at $718,000 after buying an additional 7,912 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Life360 during the second quarter valued at $908,000. Finally, AXQ Capital LP bought a new position in Life360 in the 2nd quarter worth $505,000. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

Life360 Company Profile

Life360, Inc is a technology company that develops location-based safety and coordination services for families, friends and other groups. Its primary product is the Life360 mobile application, which provides location sharing, private messaging, driving safety tools, crash detection, roadside assistance and other features designed to help users stay connected and respond to safety-related events.

The company also offers connected-device products through its Tile and Jiobit brands. Tile develops Bluetooth-enabled item trackers and related services that help users locate personal belongings, while Jiobit provides compact GPS tracking devices and services.