Life360 (NASDAQ:LIF) Sets New 12-Month High on 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) shares reached a new 52-week high during mid-day trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $86.00 to $90.00. Canaccord Genuity Group currently has a buy rating on the stock. Life360 traded as high as $84.02 and last traded at $83.55, with a volume of 2170760 shares trading hands. The stock had previously closed at $73.74.

A number of other equities analysts have also commented on the company. Loop Capital boosted their price objective on Life360 from $52.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Stifel Nicolaus boosted their price objective on Life360 from $87.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday. JMP Securities boosted their price objective on Life360 from $62.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Tuesday. Wall Street Zen lowered Life360 from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Evercore ISI boosted their price objective on Life360 from $55.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $86.43.

Insider Activity at Life360

In other news, General Counsel Susan L. Stick sold 500 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $75.51, for a total transaction of $37,755.00. Following the completion of the sale, the general counsel owned 105,422 shares in the company, valued at $7,960,415.22. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Philip Coghlan sold 3,125 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $73.56, for a total value of $229,875.00. Following the sale, the director owned 12,500 shares of the company's stock, valued at approximately $919,500. The trade was a 20.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,793 shares of company stock valued at $7,156,984 over the last quarter. 8.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Life360

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Life360 by 3,865.6% in the first quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company's stock valued at $218,194,000 after purchasing an additional 5,540,302 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Life360 by 9.2% in the fourth quarter. Millennium Management LLC now owns 1,114,922 shares of the company's stock worth $46,013,000 after acquiring an additional 94,077 shares in the last quarter. Norges Bank bought a new stake in shares of Life360 in the second quarter worth about $60,369,000. Bank of New York Mellon Corp increased its holdings in shares of Life360 by 25.1% in the second quarter. Bank of New York Mellon Corp now owns 687,269 shares of the company's stock worth $44,844,000 after acquiring an additional 137,997 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Life360 by 86.2% in the fourth quarter. Marshall Wace LLP now owns 411,326 shares of the company's stock worth $16,975,000 after acquiring an additional 190,422 shares in the last quarter. Institutional investors own 20.00% of the company's stock.

Life360 Stock Down 4.1%

The firm has a fifty day simple moving average of $68.89 and a 200-day simple moving average of $53.25. The company has a market capitalization of $6.62 billion, a P/E ratio of 277.94 and a beta of 3.46. The company has a quick ratio of 3.25, a current ratio of 7.14 and a debt-to-equity ratio of 0.84.

Life360 (NASDAQ:LIF - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.06. Life360 had a return on equity of 7.65% and a net margin of 6.45%. The company had revenue of $115.38 million during the quarter, compared to the consensus estimate of $109.33 million. On average, equities research analysts expect that Life360, Inc. will post -0.17 EPS for the current fiscal 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.