Life360 (NASDAQ:LIF) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Life360 from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $59.94.
• Life360 shares opened at $39.62, well below the consensus target, after the company reported quarterly revenue of $158.96 million but missed earnings expectations with EPS of $0.06 versus $0.08 expected.
• Company insiders sold approximately $17.1 million worth of shares over the past 90 days, while institutional ownership stands at 20%.

Life360 (NASDAQ:LIF - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. DA Davidson decreased their target price on Life360 from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday. Bank of America lifted their target price on Life360 from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Morgan Stanley set a $65.20 price target on shares of Life360 in a research note on Wednesday, August 12th. UBS Group reduced their price target on shares of Life360 from $64.00 to $60.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Finally, Citigroup lowered 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 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.com, Life360 presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.94.

Life360 Stock Down 1.7%

Life360 stock opened at $39.62 on Friday. The company has a market capitalization of $3.23 billion, a PE ratio of 23.17 and a beta of 2.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 5.46 and a current ratio of 5.60. Life360 has a fifty-two week low of $37.01 and a fifty-two week high of $112.54. The firm has a 50 day moving average price of $49.20 and a 200 day moving average price of $46.43.

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

Insiders Place Their Bets

In other Life360 news, Director Charles Prober sold 7,930 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $42.12, for a total transaction of $334,011.60. Following the sale, the director owned 109,930 shares in the company, valued at $4,630,251.60. This represents a 6.73% decrease in their position. The sale 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 John Coghlan sold 4,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $41.97, for a total value of $167,880.00. Following the completion of the sale, the director directly owned 16,431 shares in the company, valued at $689,609.07. This represents a 19.58% 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 90 days, insiders sold 353,515 shares of company stock valued at $17,128,830. 6.80% of the stock is owned by company insiders.

Institutional Trading of Life360

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Life360 by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 1,153,096 shares of the company's stock valued at $74,372,000 after purchasing an additional 85,857 shares in the last quarter. Norges Bank acquired a new stake in Life360 during the fourth quarter worth approximately $47,097,000. Principal Financial Group Inc. raised its holdings in 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. Bank of America Corp DE lifted its position in shares of 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 last quarter. Finally, Greenspring Advisors LLC acquired a new position in shares of Life360 in the 4th quarter valued at $21,720,000. 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.

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