Life360 (NASDAQ:LIF) Now Covered by Bank of America

Bank of America assumed coverage on shares of Life360 (NASDAQ:LIF) in a report published on Wednesday, MarketBeat reports. The firm issued a buy rating and a $60.00 price target on the stock.

LIF has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Life360 in a research report on Friday, March 27th. Canaccord Genuity Group decreased their price target on Life360 from $115.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Citigroup decreased their target price on Life360 from $68.50 to $68.30 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Citizens Jmp cut Life360 from a “market outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Finally, Stifel Nicolaus decreased their target price on Life360 from $92.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, January 27th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.48.

Life360 Stock Up 5.5%

Shares of NASDAQ LIF opened at $48.06 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 6.16 and a current ratio of 6.26. Life360 has a 52 week low of $37.01 and a 52 week high of $112.54. The stock has a market capitalization of $3.88 billion, a P/E ratio of 27.46 and a beta of 3.90. The stock’s fifty day moving average is $44.45 and its 200 day moving average is $63.99.

Insider Transactions at Life360

In other news, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $37.27, for a total transaction of $295,551.10. Following the sale, the director directly owned 105,456 shares of the company’s stock, valued at approximately $3,930,345.12. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Philip Coghlan sold 4,000 shares of Life360 stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $41.32, for a total value of $165,280.00. Following the sale, the director directly owned 36,431 shares in the company, valued at $1,505,328.92. The trade was a 9.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 63,037 shares of company stock valued at $2,682,792. Company insiders own 8.00% of the company’s stock.

Institutional Trading of Life360

A number of hedge funds have recently made changes to their positions in LIF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Life360 by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company’s stock valued at $237,000 after purchasing an additional 378 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Life360 by 12.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,748 shares of the company’s stock valued at $5,327,000 after purchasing an additional 15,420 shares in the last quarter. Strs Ohio acquired a new stake in shares of Life360 during the first quarter valued at about $157,000. New York State Common Retirement Fund boosted its stake in shares of Life360 by 59.4% during the second quarter. New York State Common Retirement Fund now owns 5,100 shares of the company’s stock valued at $333,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Life360 by 1,065.1% during the second quarter. Invesco Ltd. now owns 163,970 shares of the company’s stock valued at $10,699,000 after purchasing an additional 149,896 shares in the last quarter. 20.00% of the stock is owned by institutional investors and hedge funds.

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.