Bank of America Begins Coverage on Life360 (NASDAQ:LIF)

Key Points

• Bank of America initiated coverage on Life360 with a buy rating and a $60 price target, implying roughly a 31.7% upside from current levels.
• Analysts are mixed—six buys and five holds—with an average rating of "Moderate Buy" and an average price target of $73.48, while shares trade near $45.57 (down 6.3%).
• Insiders sold a total of 63,037 shares in the past 90 days under Rule 10b5-1 plans to cover taxes, and institutional investors own roughly 20% of the stock.

Analysts at Bank of America initiated coverage on shares of Life360 (NASDAQ:LIF - Get Free Report) in a research report issued to clients and investors on Wednesday. The brokerage set a "buy" rating and a $60.00 price target on the stock. Bank of America's price target indicates a potential upside of 31.67% from the stock's current price.

Several other research analysts have also issued reports on LIF. Wall Street Zen lowered Life360 from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. DA Davidson lowered Life360 from a "buy" rating to a "neutral" rating and dropped their target price for the company from $70.00 to $40.00 in a research report on Thursday, March 19th. Citizens Jmp lowered Life360 from a "market outperform" rating to a "market perform" rating in a research report on Monday, January 5th. Weiss Ratings restated a "hold (c-)" rating on shares of Life360 in a research report on Friday, March 27th. Finally, Citigroup dropped their target price on Life360 from $68.50 to $68.30 and set a "buy" rating for the company in a research report on Thursday, April 9th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Life360 presently has an average rating of "Moderate Buy" and an average price target of $73.48.

Life360 Stock Down 6.3%

Shares of NASDAQ:LIF opened at $45.57 on Wednesday. Life360 has a 1 year low of $37.00 and a 1 year high of $112.54. The business has a 50 day simple moving average of $44.54 and a two-hundred day simple moving average of $64.11. The firm has a market capitalization of $3.68 billion, a PE ratio of 26.04 and a beta of 3.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 6.26 and a quick ratio of 6.16.

Insider Activity at Life360

In other news, Director Chris Hulls sold 16,105 shares of Life360 stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $45.51, for a total transaction of $732,938.55. Following the completion of the sale, the director owned 399,809 shares of the company's stock, valued at approximately $18,195,307.59. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $37.27, for a total transaction of $295,551.10. Following the sale, the director directly owned 105,456 shares of the company's stock, valued at $3,930,345.12. This represents a 6.99% decrease in their position. 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. Over the last ninety days, insiders sold 63,037 shares of company stock worth $2,682,792.

Hedge Funds Weigh In On Life360

Several institutional investors have recently bought and sold shares of LIF. Vanguard Group Inc. increased its holdings in Life360 by 18.0% during the third quarter. Vanguard Group Inc. now owns 8,271,920 shares of the company's stock valued at $879,305,000 after buying an additional 1,260,236 shares during the period. Norges Bank purchased a new position in Life360 during the fourth quarter valued at approximately $47,097,000. Citigroup Inc. increased its holdings in Life360 by 158.4% during the third quarter. Citigroup Inc. now owns 749,569 shares of the company's stock valued at $79,679,000 after buying an additional 459,463 shares during the period. American Century Companies Inc. purchased a new position in Life360 during the third quarter valued at approximately $44,632,000. Finally, Franklin Resources Inc. increased its holdings in Life360 by 86.3% during the third quarter. Franklin Resources Inc. now owns 760,122 shares of the company's stock valued at $80,801,000 after buying an additional 352,110 shares during the period. 20.00% of the stock is owned by hedge funds and other institutional investors.

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.

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