Life360 (NASDAQ:LIF) Announces Quarterly Earnings Results

Key Points

• Life360 reported mixed quarterly results: earnings per share came in at $0.06, below the $0.08 analyst consensus, while revenue of $158.96 million exceeded estimates of $156.68 million.
• Shares rose 2.2% to $64.61 following the results. Analysts maintained a “Moderate Buy” consensus rating with an average price target of $64.81, despite some recent rating and target-price reductions.
• Insiders have been net sellers: company insiders sold 94,707 shares worth about $5.0 million over the past 90 days, while institutional investors own approximately 20% of the stock.

Life360 (NASDAQ:LIF - Get Free Report) issued its earnings results on Monday. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02), FiscalAI reports. The business had revenue of $158.96 million during the quarter, compared to analyst estimates of $156.68 million. Life360 had a net margin of 28.21% and a return on equity of 6.80%.

Life360 Stock Up 2.2%

NASDAQ LIF traded up $1.42 during trading on Monday, reaching $64.61. The company's stock had a trading volume of 1,108,347 shares, compared to its average volume of 1,020,143. The company has a current ratio of 5.37, a quick ratio of 5.23 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $5.24 billion, a PE ratio of 37.35 and a beta of 2.35. The business has a 50-day moving average price of $52.43 and a 200-day moving average price of $48.37. Life360 has a 1-year low of $37.01 and a 1-year high of $112.54.

Analyst Upgrades and Downgrades

LIF has been the topic of a number of research analyst reports. DA Davidson boosted their price objective on shares of Life360 from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Monday, June 22nd. UBS Group decreased their target price on shares of Life360 from $75.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th. Morgan Stanley initiated coverage on shares of Life360 in a report on Tuesday, July 21st. They set an "overweight" rating and a $66.24 price target on the stock. Wall Street Zen lowered Life360 from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Weiss Ratings cut Life360 from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $64.81.

Insider Buying and Selling at Life360

In other news, Director Charles J. Prober sold 7,930 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $46.07, for a total transaction of $365,335.10. Following the transaction, the director owned 109,911 shares in the company, valued at approximately $5,063,599.77. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Philip Coghlan sold 4,000 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $54.82, for a total value of $219,280.00. Following the sale, the director owned 20,431 shares of the company's stock, valued at approximately $1,120,027.42. This trade represents a 16.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 94,707 shares of company stock worth $5,008,946. Company insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Life360

A number of institutional investors have recently modified their holdings of LIF. Franklin Resources Inc. increased its position in Life360 by 86.3% in the 3rd quarter. Franklin Resources Inc. now owns 760,122 shares of the company's stock worth $80,801,000 after buying an additional 352,110 shares during the period. Invesco Ltd. boosted its position in shares of Life360 by 171.3% in the third quarter. Invesco Ltd. now owns 444,923 shares of the company's stock valued at $47,295,000 after acquiring an additional 280,953 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Life360 by 19,023.3% in the second quarter. BNP Paribas Financial Markets now owns 232,348 shares of the company's stock worth $15,161,000 after acquiring an additional 231,133 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Life360 in the fourth quarter worth $14,732,000. Finally, Renaissance Technologies LLC increased its position in Life360 by 188.0% during the fourth quarter. Renaissance Technologies LLC now owns 227,800 shares of the company's stock worth $14,611,000 after acquiring an additional 148,700 shares during the period. Institutional investors own 20.00% of the company's stock.

About Life360

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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