Life360 (NASDAQ:LIF) Stock Keeps "Neutral" Rating at DA Davidson

Key Points

• DA Davidson reaffirmed its “neutral” rating on Life360 with a $40 price target, implying just 0.27% upside from the stock’s $39.89 price. Overall, analysts rate the stock “Moderate Buy,” with an average target of $59.94.
• Life360’s latest quarter showed mixed results: revenue of $158.96 million exceeded estimates, but adjusted EPS of $0.06 missed the $0.08 consensus. The stock is down sharply from its 52-week high of $112.54.
• Insiders sold $18.9 million of shares over the past three months, while institutional ownership stands at 20%. Several major institutions, including Norges Bank and Bank of America, recently established or expanded positions.

Life360 (NASDAQ:LIF - Get Free Report)'s stock had its "neutral" rating reissued by stock analysts at DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $40.00 price objective on the stock. DA Davidson's target price points to a potential upside of 0.27% from the company's current price.

LIF has been the topic of a number of other reports. Morgan Stanley set a $65.20 price objective on shares of Life360 in a research note on Wednesday, August 12th. Wall Street Zen raised Life360 from a "sell" rating to a "hold" rating in a report on Saturday, September 19th. Bank of America lifted their target price on Life360 from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Citigroup lowered their target price on Life360 from $66.65 to $60.10 and set a "buy" rating on the stock in a report on Thursday, August 13th. Finally, Weiss Ratings raised Life360 from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $59.94.

Life360 Trading Down 0.2%

NASDAQ LIF traded down $0.09 during mid-day trading on Tuesday, hitting $39.89. The company's stock had a trading volume of 229,230 shares, compared to its average volume of 982,563. 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 52-week low of $37.01 and a 52-week high of $112.54. The stock's fifty day simple moving average is $47.63 and its two-hundred day simple moving average is $46.18. The firm has a market capitalization of $3.25 billion, a P/E ratio of 23.26 and a beta of 2.24.

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

Insider Transactions at Life360

In related news, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction dated Thursday, August 13th. The stock was 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 of the company's stock, valued at approximately $5,341,498.70. This trade represents a 6.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Synge sold 27,466 shares of Life360 stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $44.31, for a total value of $1,217,018.46. Following the transaction, the director directly owned 191,694 shares in the company, valued at approximately $8,493,961.14. This trade represents a 12.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 398,860 shares of company stock worth $18,916,805 in the last three months. Insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Life360

Several institutional investors have recently made changes to their positions in LIF. Norges Bank acquired a new stake in Life360 in the 4th quarter worth $47,097,000. Principal Financial Group Inc. grew its position in Life360 by 455.0% in the 1st 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 during the last quarter. Greenspring Advisors LLC acquired a new stake in Life360 in the 4th quarter worth $21,720,000. Bank of America Corp DE grew its position in Life360 by 312.8% in the 1st quarter. Bank of America Corp DE now owns 407,296 shares of the company's stock worth $16,626,000 after purchasing an additional 308,632 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Life360 in the second quarter valued at $15,547,000. 20.00% of the stock is currently owned by institutional investors and hedge funds.

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.