Life360 (NASDAQ:LIF) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Life360 reached a new 52-week high after Canaccord Genuity Group raised its price target from $86.00 to $90.00, reflecting strong market confidence in the stock.
• Several analysts, including JMP Securities and Evercore ISI, have set price targets for Life360 at $95.00, indicating positive sentiment within the investment community.
• Insider transactions have shown significant selling activity, with two directors selling shares valued at over $3 million, which may raise some concerns about insider confidence in the company’s future.

Life360, Inc. (NASDAQ:LIF - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $84.02 and last traded at $83.55, with a volume of 2170760 shares traded. The stock had previously closed at $73.74.

Other research analysts also recently issued reports about the company. Citigroup began coverage on Life360 in a research note on Thursday, July 31st. They issued a "buy" rating and a $90.00 price target for the company. Canaccord Genuity Group lifted their price objective on Life360 from $86.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Loop Capital lifted their price objective on Life360 from $52.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. JMP Securities lifted their price objective on Life360 from $62.00 to $95.00 and gave the company a "market outperform" rating in a report on Tuesday, August 12th. Finally, UBS Group reaffirmed a "buy" rating and issued a $85.00 price objective (up from $71.00) on shares of Life360 in a report on Tuesday, August 12th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Life360 has a consensus rating of "Buy" and a consensus price target of $86.43.

Insiders Place Their Bets

In other news, Director Brit Morin sold 47,584 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $61.14, for a total transaction of $2,909,285.76. Following the completion of the transaction, the director owned 26,442 shares of the company's stock, valued at approximately $1,616,663.88. The trade was a 64.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles J. Prober sold 7,942 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $61.63, for a total value of $489,465.46. Following the sale, the director owned 105,456 shares in the company, valued at $6,499,253.28. This represents a 7.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 120,723 shares of company stock worth $7,824,134 over the last 90 days. Corporate insiders own 8.00% of the company's stock.

Institutional Investors Weigh In On Life360

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FORA Capital LLC bought a new stake in Life360 during the 2nd quarter worth $1,145,000. Tower Research Capital LLC TRC grew its position in shares of Life360 by 6,172.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 21,764 shares of the company's stock valued at $1,420,000 after buying an additional 21,417 shares during the last quarter. State of Tennessee Department of Treasury bought a new stake in shares of Life360 in the 2nd quarter valued at about $150,000. Vident Advisory LLC bought a new stake in shares of Life360 in the 2nd quarter valued at about $232,000. Finally, Voleon Capital Management LP bought a new stake in shares of Life360 in the 2nd quarter valued at about $4,011,000. Institutional investors own 20.00% of the company's stock.

Life360 Price Performance

The business has a 50-day simple moving average of $69.73 and a 200 day simple moving average of $53.83. The stock has a market cap of $6.63 billion, a P/E ratio of 266.98 and a beta of 3.46. The company has a current ratio of 7.14, a quick ratio of 3.25 and a debt-to-equity ratio of 0.84.

Life360 (NASDAQ:LIF - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. Life360 had a return on equity of 7.65% and a net margin of 6.45%. The firm had revenue of $115.38 million for the quarter, compared to analyst estimates of $109.33 million. On average, analysts forecast that Life360, Inc. will post -0.17 earnings per share for the current year.

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.