Life360 (NASDAQ:LIF) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Life360 (NASDAQ:LIF) from a buy rating to a hold rating in a report published on Sunday morning.

Other equities analysts have also recently issued reports about the company. Citizens Jmp cut Life360 from a “market outperform” rating to a “market perform” rating in a research report on Monday, January 5th. Stifel Nicolaus lowered their price target on Life360 from $92.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, January 27th. Canaccord Genuity Group dropped their price target on Life360 from $115.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Life360 in a report on Monday, December 29th. Finally, Citigroup restated a “buy” rating on shares of Life360 in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.31.

Life360 Stock Down 2.5%

LIF opened at $46.38 on Friday. The firm has a market capitalization of $3.72 billion, a P/E ratio of 26.50 and a beta of 3.84. Life360 has a one year low of $29.62 and a one year high of $112.54. The company has a fifty day moving average price of $55.60 and a 200-day moving average price of $76.07. The company has a debt-to-equity ratio of 0.57, a current ratio of 6.26 and a quick ratio of 6.16.

Insiders Place Their Bets

In other Life360 news, CEO Lauren Antonoff sold 17,153 shares of Life360 stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $44.86, for a total transaction of $769,483.58. Following the completion of the sale, the chief executive officer owned 288,232 shares of the company’s stock, valued at $12,930,087.52. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles J. Prober sold 7,930 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $68.30, for a total value of $541,619.00. Following the completion of the transaction, the director owned 105,456 shares of the company’s stock, valued at $7,202,644.80. The trade was a 6.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 40,712 shares of company stock valued at $2,295,032 over the last quarter.

Hedge Funds Weigh In On Life360

A number of large investors have recently modified their holdings of the company. Citigroup Inc. grew its position in Life360 by 158.4% during the third quarter. Citigroup Inc. now owns 749,569 shares of the company’s stock valued at $79,679,000 after acquiring an additional 459,463 shares during the last quarter. Castleark Management LLC bought a new stake in shares of Life360 in the 2nd quarter worth approximately $5,518,000. Permanent Capital Management LP purchased a new stake in shares of Life360 in the 3rd quarter valued at $2,290,000. Federated Hermes Inc. boosted its stake in shares of Life360 by 661.6% in the 2nd quarter. Federated Hermes Inc. now owns 371,461 shares of the company’s stock valued at $24,238,000 after purchasing an additional 322,688 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of Life360 by 8,595.9% during the 2nd quarter. Osaic Holdings Inc. now owns 44,784 shares of the company’s stock valued at $2,922,000 after purchasing an additional 44,269 shares during the last quarter. 20.00% of the stock is owned by hedge funds and other institutional investors.

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.