Life360 (NASDAQ:LIF) Cut to Hold at Wall Street Zen

Key Points

• Life360 was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, reflecting a shift in market sentiment towards the stock.
• Despite the downgrade, analysts remain divided with other firms like JMP Securities and Citigroup maintaining "buy" ratings and increasing their price targets, indicating a consensus rating of "Moderate Buy".
• Recent insider selling, including transactions from COO Lauren Antonoff and Director Charles J. Prober, has raised concerns, as insiders sold a total of over $850,000 in shares in the past weeks.

Life360 (NASDAQ:LIF - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Other research analysts also recently issued research reports about the company. JMP Securities boosted their price target on Life360 from $55.00 to $62.00 and gave the company a "market outperform" rating in a report on Monday, June 16th. Citigroup restated an "outperform" rating on shares of Life360 in a report on Monday, June 16th. Stifel Nicolaus reduced their price target on Life360 from $52.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Canaccord Genuity Group set a $75.00 price target on Life360 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, UBS Group lifted their price objective on Life360 from $57.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

Life360 Trading Up 2.0%

LIF opened at $76.81 on Friday. The company has a market cap of $5.88 billion and a P/E ratio of 853.44. The business's 50-day moving average price is $64.91 and its 200-day moving average price is $50.19. Life360 has a 12 month low of $28.94 and a 12 month high of $77.11.

Life360 (NASDAQ:LIF - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.09. Life360 had a return on equity of 4.05% and a net margin of 2.42%. The company had revenue of $103.62 million for the quarter, compared to the consensus estimate of $101.48 million. Equities research analysts forecast that Life360 will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Life360

In other news, COO Lauren Antonoff sold 4,546 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $75.69, for a total value of $344,086.74. Following the sale, the chief operating officer directly owned 307,778 shares of the company's stock, valued at $23,295,716.82. The trade was a 1.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles J. Prober sold 7,930 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $64.41, for a total value of $510,771.30. Following the completion of the sale, the director directly owned 105,456 shares in the company, valued at approximately $6,792,420.96. This represents a 6.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,793 shares of company stock worth $7,048,111. Insiders own 8.00% of the company's stock.

Institutional Trading of Life360

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Life360 by 3,865.6% in the 1st quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company's stock worth $218,194,000 after purchasing an additional 5,540,302 shares in the last quarter. Millennium Management LLC boosted its position in shares of Life360 by 9.2% in the 4th quarter. Millennium Management LLC now owns 1,114,922 shares of the company's stock worth $46,013,000 after purchasing an additional 94,077 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Life360 by 320.0% in the 1st quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company's stock worth $21,087,000 after purchasing an additional 418,493 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Life360 by 402.9% in the 4th quarter. Franklin Resources Inc. now owns 539,592 shares of the company's stock worth $22,269,000 after purchasing an additional 432,292 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Life360 by 86.2% in the 4th quarter. Marshall Wace LLP now owns 411,326 shares of the company's stock worth $16,975,000 after purchasing an additional 190,422 shares in the last quarter. 20.00% of the stock is owned by institutional investors.

Life360 Company Profile

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.

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