Life360 (NASDAQ:LIF) Stock Falls 5.2% - Here's Why

Key Points

• Life360 shares fell 5.2% to about $44.92, while trading volume was 92% below the stock’s average daily volume.
• Analysts maintain a “Moderate Buy” consensus rating with a $59.93 average price target; recent ratings range from Hold to Buy.
• In its latest reported quarter, Life360’s EPS of $0.06 missed the $0.08 estimate, though revenue of $158.96 million exceeded expectations. Insiders sold 419,089 shares worth about $18.9 million over the past 90 days.

Shares of Life360, Inc. (NASDAQ:LIF - Get Free Report) were down 5.2% during trading on Monday. The stock traded as low as $44.96 and last traded at $44.9150. Approximately 78,107 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 932,245 shares. The stock had previously closed at $47.37.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LIF shares. DA Davidson restated a "neutral" rating and set a $40.00 target price on shares of Life360 in a research report on Tuesday, September 29th. Morgan Stanley set a $65.20 price target on shares of Life360 in a report on Wednesday, August 12th. Citigroup decreased their price target on shares of Life360 from $60.10 to $60.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. Weiss Ratings raised shares of Life360 from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, September 4th. Finally, Wall Street Zen raised shares of Life360 from a "sell" rating to a "hold" rating in a report on Saturday, September 19th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.93.

Life360 Trading Down 8.3%

The company has a current ratio of 5.60, a quick ratio of 5.46 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $42.84 and a 200-day simple moving average of $46.95. The firm has a market cap of $3.54 billion, a P/E ratio of 25.49 and a beta of 2.17.

Life360 (NASDAQ:LIF - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). The firm had revenue of $158.96 million for the quarter, compared to analysts' expectations of $156.68 million. Life360 had a return on equity of 5.66% and a net margin of 25.73%. On average, equities research analysts expect that Life360, Inc. will post 0.53 EPS for the current fiscal year.

Insider Transactions at Life360

In related news, Director Charles J. Prober sold 7,930 shares of the business's stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $43.29, for a total value of $343,289.70. Following the sale, the director owned 109,930 shares in the company, valued at approximately $4,758,869.70. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Synge sold 27,466 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $44.31, for a total transaction of $1,217,018.46. Following the completion of the sale, the director owned 191,694 shares in the company, valued at $8,493,961.14. This represents a 12.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 419,089 shares of company stock valued at $18,880,975 in the last 90 days. Company insiders own 6.80% of the company's stock.

Institutional Trading of Life360

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of Life360 by 455.0% in the 1st quarter. Principal Financial Group Inc. now owns 463,442 shares of the company's stock worth $18,918,000 after acquiring an additional 379,941 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Life360 by 312.8% during the 1st quarter. Bank of America Corp DE now owns 407,296 shares of the company's stock worth $16,626,000 after purchasing an additional 308,632 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Life360 by 140.2% during the 1st quarter. Bank of New York Mellon Corp now owns 305,023 shares of the company's stock worth $12,451,000 after purchasing an additional 178,040 shares during the period. Dimensional Fund Advisors LP grew its holdings in Life360 by 19.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 303,479 shares of the company's stock valued at $12,385,000 after purchasing an additional 49,429 shares during the last quarter. Finally, Greenspring Advisors LLC bought a new position in Life360 during the 2nd quarter valued at about $9,592,000. 20.00% of the stock is currently owned by institutional investors.

Life360 Company Profile

Life360 operates a family safety and location-sharing platform. Its mobile app helps families and other groups share locations, coordinate their activities and receive alerts about arrivals, departures and other events. The service also includes features such as driving insights, roadside assistance and emergency support.

The company's offerings include the Life360 app and Tile, its line of Bluetooth tracking devices and related services for finding everyday items. Together, these products provide location and safety tools for people, pets and belongings.

Founded in 2008, Life360 serves users in markets around the world, including North America, Europe and the Asia-Pacific region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.