Citigroup Cuts Life360 (NASDAQ:LIF) Price Target to $68.30

Life360 (NASDAQ:LIF) had its price target trimmed by Citigroup from $68.50 to $68.30 in a research note published on Thursday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on LIF. Citizens Jmp cut shares of Life360 from a “market outperform” rating to a “market perform” rating in a research note on Monday, January 5th. Stifel Nicolaus cut their price objective on shares of Life360 from $92.00 to $76.00 and set a “hold” rating for the company in a research note on Tuesday, January 27th. DA Davidson cut shares of Life360 from a “buy” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $40.00 in a research note on Thursday, March 19th. Wall Street Zen cut shares of Life360 from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Life360 in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.16.

Life360 Price Performance

Shares of Life360 stock opened at $38.10 on Thursday. Life360 has a 52-week low of $33.17 and a 52-week high of $112.54. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 21.77 and a beta of 3.90. The company has a fifty day moving average of $46.14 and a 200-day moving average of $67.37. The company has a debt-to-equity ratio of 0.57, a quick ratio of 6.16 and a current ratio of 6.26.

Insider Activity

In other Life360 news, Director Charles J. Prober sold 7,930 shares of the stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $61.98, for a total transaction of $491,501.40. Following the completion of the sale, the director owned 105,456 shares of the company’s stock, valued at $6,536,162.88. This represents 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 Chris Hulls sold 15,133 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $39.43, for a total transaction of $596,694.19. Following the sale, the director directly owned 334,319 shares of the company’s stock, valued at $13,182,198.17. The trade was a 4.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 44,216 shares of company stock worth $2,022,959. 8.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Life360

Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its position in Life360 by 71.4% during the 3rd quarter. CWM LLC now owns 384 shares of the company’s stock valued at $41,000 after buying an additional 160 shares during the period. SBI Securities Co. Ltd. boosted its position in Life360 by 824.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 268 shares of the company’s stock valued at $28,000 after buying an additional 239 shares during the period. California State Teachers Retirement System lifted its position in shares of Life360 by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 61,697 shares of the company’s stock worth $4,026,000 after purchasing an additional 254 shares during the period. Swiss Life Asset Management Ltd lifted its position in shares of Life360 by 8.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 3,617 shares of the company’s stock worth $232,000 after purchasing an additional 273 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Life360 by 21.1% in the 4th quarter. Russell Investments Group Ltd. now owns 1,673 shares of the company’s stock worth $107,000 after purchasing an additional 292 shares during the period. Hedge funds and other institutional investors own 20.00% of the company’s stock.

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.