Life360, Inc. (NASDAQ:LIF) Receives Consensus Rating of "Buy" from Brokerages

Life360, Inc. (NASDAQ:LIF - Get Free Report) has been given an average rating of "Buy" by the eight research firms that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $49.50.

A number of research firms recently weighed in on LIF. Stifel Nicolaus dropped their price target on Life360 from $52.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. UBS Group increased their price objective on shares of Life360 from $55.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Loop Capital lifted their target price on shares of Life360 from $52.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday.

Life360 Stock Performance

Shares of LIF traded up $10.11 during midday trading on Friday, reaching $59.62. The stock had a trading volume of 2,211,998 shares, compared to its average volume of 390,351. The firm has a 50 day simple moving average of $39.50 and a 200-day simple moving average of $42.71. Life360 has a one year low of $26.00 and a one year high of $62.61.

Life360 (NASDAQ:LIF - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.09. Life360 had a negative return on equity of 4.03% and a negative net margin of 4.72%. The firm had revenue of $103.62 million for the quarter, compared to the consensus estimate of $101.48 million. As a group, equities analysts forecast that Life360 will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Susan L. Stick sold 2,822 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $42.08, for a total value of $118,749.76. Following the completion of the transaction, the general counsel now directly owns 86,752 shares in the company, valued at approximately $3,650,524.16. The trade was a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Russell John Burke sold 3,104 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $34.39, for a total transaction of $106,746.56. Following the sale, the chief financial officer now directly owns 208,395 shares of the company's stock, valued at approximately $7,166,704.05. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 173,381 shares of company stock worth $7,197,406 in the last quarter. Corporate insiders own 8.00% of the company's stock.

Hedge Funds Weigh In On Life360

A number of institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new stake in shares of Life360 during the fourth quarter valued at about $25,000. Summit Investment Advisors Inc. increased its stake in shares of Life360 by 82.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the company's stock valued at $44,000 after acquiring an additional 484 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Life360 by 2,938.9% during the first quarter. GAMMA Investing LLC now owns 2,188 shares of the company's stock worth $84,000 after purchasing an additional 2,116 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Life360 by 937.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,189 shares of the company's stock valued at $84,000 after purchasing an additional 1,978 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Life360 in the fourth quarter valued at about $147,000. 20.00% of the stock is currently owned by institutional investors and hedge funds.

About Life360

Life360 Inc is a family connection and safety company. Its business category includes mobile app and Tile tracking devices with a range of services, including location sharing, safe driver reports and crash detection with emergency dispatch. Life360 Inc is based in SAN FRANCISCO.