Life360 (NASDAQ:LIF) Stock Price Down 3.4% – Here’s Why

Life360, Inc. (NASDAQ:LIF)’s stock price fell 3.4% during trading on Wednesday . The company traded as low as $64.01 and last traded at $64.43. 59,504 shares were traded during mid-day trading, a decline of 92% from the average session volume of 769,282 shares. The stock had previously closed at $66.73.

Wall Street Analyst Weigh In

Several analysts have commented on LIF shares. Zacks Research downgraded shares of Life360 from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Citigroup reaffirmed a “market outperform” rating on shares of Life360 in a research note on Tuesday, November 11th. Wall Street Zen downgraded shares of Life360 from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Life360 in a report on Monday. Finally, Stifel Nicolaus set a $92.00 price target on Life360 in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Life360 currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.63.

Life360 Stock Down 3.9%

The stock has a market cap of $5.03 billion, a P/E ratio of 188.65 and a beta of 3.60. The company has a current ratio of 6.80, a quick ratio of 6.62 and a debt-to-equity ratio of 0.79. The firm’s fifty day moving average is $76.57 and its 200 day moving average is $81.64.

Life360 (NASDAQ:LIF) last released its quarterly earnings results on Monday, November 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $124.50 million during the quarter, compared to analysts’ expectations of $119.26 million. Life360 had a net margin of 6.46% and a return on equity of 7.95%. As a group, equities research analysts forecast that Life360, Inc. will post -0.17 EPS for the current year.

Insider Transactions at Life360

In other Life360 news, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $68.30, for a total value of $541,619.00. Following the transaction, the director directly owned 105,456 shares of the company’s stock, valued at $7,202,644.80. The trade was a 6.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Synge sold 3,966 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $63.96, for a total value of $253,665.36. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 613,022 shares of company stock worth $47,501,677. Insiders own 8.00% of the company’s stock.

Institutional Trading of Life360

A number of hedge funds have recently bought and sold shares of LIF. Janney Montgomery Scott LLC bought a new position in Life360 in the second quarter worth $344,000. Invesco Ltd. acquired a new position in shares of Life360 in the 1st quarter valued at $540,000. Wilson Asset Management International PTY Ltd. raised its stake in shares of Life360 by 11.2% in the 2nd quarter. Wilson Asset Management International PTY Ltd. now owns 69,975 shares of the company’s stock valued at $4,566,000 after buying an additional 7,043 shares in the last quarter. Castleark Management LLC bought a new position in shares of Life360 during the 2nd quarter worth about $5,518,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Life360 by 661.6% during the 2nd quarter. Federated Hermes Inc. now owns 371,461 shares of the company’s stock worth $24,238,000 after acquiring an additional 322,688 shares during the period. 20.00% of the stock is owned by institutional investors.

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.