Life360 (NASDAQ:LIF) Shares Down 6.9% Following Analyst Downgrade

Life360, Inc. (NASDAQ:LIF) shares were down 6.9% during trading on Friday after Citigroup lowered their price target on the stock from $68.50 to $68.30. Citigroup currently has a buy rating on the stock. Life360 traded as low as $38.84 and last traded at $38.6770. Approximately 296,886 shares traded hands during trading, a decline of 78% from the average daily volume of 1,346,742 shares. The stock had previously closed at $41.53.

A number of other brokerages have also recently commented on LIF. DA Davidson cut shares of Life360 from a “buy” rating to a “neutral” rating and cut their price target for the company from $70.00 to $40.00 in a research report on Thursday, March 19th. UBS Group cut their price target on shares of Life360 from $110.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Stifel Nicolaus cut their price target on shares of Life360 from $92.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, January 27th. Canaccord Genuity Group cut their price target on shares of Life360 from $115.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Wall Street Zen cut shares of Life360 from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.16.

Insider Activity at Life360

In other news, Director John Philip Coghlan sold 4,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $41.32, for a total transaction of $165,280.00. Following the transaction, the director owned 36,431 shares of the company’s stock, valued at $1,505,328.92. This represents a 9.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles J. Prober sold 7,930 shares of the stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $61.98, for a total transaction of $491,501.40. Following the transaction, the director directly owned 105,456 shares in the company, valued at $6,536,162.88. This trade represents a 6.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 44,216 shares of company stock worth $2,022,959 over the last quarter. Company insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Life360

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. raised its holdings in shares of Life360 by 158.4% in the 3rd quarter. Citigroup Inc. now owns 749,569 shares of the company’s stock worth $79,679,000 after acquiring an additional 459,463 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of Life360 in the 2nd quarter worth about $5,518,000. Permanent Capital Management LP acquired a new stake in shares of Life360 in the 3rd quarter worth about $2,290,000. Vanguard Group Inc. raised its holdings in shares of Life360 by 18.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,271,920 shares of the company’s stock worth $879,305,000 after acquiring an additional 1,260,236 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of Life360 by 8,595.9% in the 2nd quarter. Osaic Holdings Inc. now owns 44,784 shares of the company’s stock worth $2,922,000 after acquiring an additional 44,269 shares during the last quarter. Institutional investors own 20.00% of the company’s stock.

Life360 Stock Down 8.3%

The company has a debt-to-equity ratio of 0.57, a quick ratio of 6.16 and a current ratio of 6.26. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 21.77 and a beta of 3.90. The stock’s fifty day moving average is $46.14 and its two-hundred day moving average is $67.61.

Life360 Company Profile

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.