Life360 (NASDAQ:LIF) Trading 5.3% Higher – Time to Buy?

Shares of Life360, Inc. (NASDAQ:LIF) shot up 5.3% on Thursday . The company traded as high as $47.14 and last traded at $45.4990. Approximately 286,206 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,051,789 shares. The stock had previously closed at $43.19.

Analyst Ratings Changes

Several research firms recently weighed in on LIF. Macquarie Infrastructure initiated coverage on Life360 in a report on Tuesday, April 28th. They issued an “outperform” rating and a $32.20 target price for the company. Bank of America lifted their price target on shares of Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Canaccord Genuity Group set a $72.00 price objective on shares of Life360 in a research note on Tuesday, May 12th. DA Davidson upped their price objective on shares of Life360 from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Evercore set a $68.00 price objective on shares of Life360 in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.72.

Life360 Stock Up 5.2%

The company has a debt-to-equity ratio of 0.51, a current ratio of 5.60 and a quick ratio of 5.46. The firm has a market capitalization of $3.70 billion, a P/E ratio of 26.57 and a beta of 2.35. The business has a 50 day moving average price of $53.05 and a 200 day moving average price of $47.84.

Life360 (NASDAQ:LIF) last announced its earnings results on Monday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $158.96 million for the quarter, compared to the consensus estimate of $156.68 million. Life360 had a net margin of 25.73% and a return on equity of 5.66%. On average, analysts predict that Life360, Inc. will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Chris Hulls sold 250,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $46.84, for a total value of $11,710,000.00. Following the sale, the director owned 382,056 shares in the company, valued at approximately $17,895,503.04. This trade represents a 39.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Philip Coghlan sold 4,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $54.82, for a total transaction of $219,280.00. Following the transaction, the director directly owned 20,431 shares in the company, valued at $1,120,027.42. This trade represents a 16.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 352,637 shares of company stock valued at $17,104,265 in the last three months. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Life360

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its holdings in shares of Life360 by 0.4% during 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 grew its position in Life360 by 8.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 3,617 shares of the company’s stock worth $232,000 after buying an additional 273 shares in the last quarter. Russell Investments Group Ltd. grew its position in Life360 by 21.1% during the fourth quarter. Russell Investments Group Ltd. now owns 1,673 shares of the company’s stock worth $107,000 after buying an additional 292 shares in the last quarter. NewEdge Advisors LLC bought a new position in Life360 during the third quarter valued at about $32,000. Finally, The Manufacturers Life Insurance Company increased its stake in Life360 by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 21,127 shares of the company’s stock valued at $1,379,000 after acquiring an additional 343 shares during the period. 20.00% of the stock is currently 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.