Life360 (NASDAQ:LIF) Downgraded to Neutral Rating by DA Davidson

DA Davidson cut shares of Life360 (NASDAQ:LIF) from a buy rating to a neutral rating in a report published on Thursday morning, MarketBeat Ratings reports. DA Davidson currently has $40.00 price target on the stock, down from their prior price target of $70.00.

Other analysts also recently issued reports about the stock. UBS Group dropped 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 decreased their price objective on shares of Life360 from $92.00 to $76.00 and set a “hold” rating for the company in a report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Life360 in a research note on Monday, December 29th. Wall Street Zen cut Life360 from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Citizens Jmp downgraded Life360 from a “market outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.56.

Life360 Price Performance

Shares of NASDAQ LIF opened at $39.27 on Thursday. The stock has a market cap of $3.15 billion, a P/E ratio of 22.44 and a beta of 3.84. The firm’s 50-day simple moving average is $52.41 and its 200 day simple moving average is $73.88. Life360 has a fifty-two week low of $29.62 and a fifty-two week high of $112.54. The company has a quick ratio of 6.16, a current ratio of 6.26 and a debt-to-equity ratio of 0.57.

Insider Transactions at Life360

In other Life360 news, CEO Lauren Antonoff sold 17,153 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $44.86, for a total value of $769,483.58. Following the completion of the sale, the chief executive officer directly owned 288,232 shares of the company’s stock, valued at approximately $12,930,087.52. This represents a 5.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $61.98, for a total transaction of $491,501.40. Following the completion of the transaction, the director directly owned 105,456 shares in the company, valued at $6,536,162.88. This represents a 6.99% decrease in their position. The SEC filing for this sale provides additional information. 8.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LIF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Life360 by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company’s stock valued at $237,000 after acquiring an additional 378 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Life360 by 12.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,748 shares of the company’s stock worth $5,327,000 after acquiring an additional 15,420 shares during the last quarter. Strs Ohio acquired a new stake in shares of Life360 during the first quarter worth $157,000. ProShare Advisors LLC acquired a new stake in shares of Life360 during the second quarter worth $321,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Life360 by 35.8% during the second quarter. Geode Capital Management LLC now owns 253,862 shares of the company’s stock valued at $16,557,000 after purchasing an additional 66,900 shares during the last quarter. Institutional investors and hedge funds 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.