Life360 (NASDAQ:LIF) Stock Price Down 6.3% – Here’s What Happened

Life360, Inc. (NASDAQ:LIF)’s share price fell 6.3% on Tuesday . The stock traded as low as $54.19 and last traded at $53.9620. 73,637 shares changed hands during trading, a decline of 93% from the average daily volume of 1,106,967 shares. The stock had previously closed at $57.58.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America assumed coverage on Life360 in a report on Wednesday, April 22nd. They issued a “buy” rating and a $60.00 target price for the company. Evercore set a $68.00 target price on shares of Life360 in a report on Tuesday, May 12th. UBS Group cut their target price on shares of Life360 from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. DA Davidson boosted their price target on shares of Life360 from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Finally, Citigroup reaffirmed a “buy” rating on shares of Life360 in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.17.

Life360 Price Performance

The firm has a market capitalization of $4.65 billion, a P/E ratio of 33.14 and a beta of 2.33. The stock’s fifty day simple moving average is $45.19 and its 200 day simple moving average is $49.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.37 and a quick ratio of 5.23.

Insider Transactions at Life360

In related news, Director Charles J. Prober sold 7,930 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $37.27, for a total transaction of $295,551.10. Following the completion of the sale, the director owned 105,456 shares of the company’s stock, valued at $3,930,345.12. This represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brit Morin sold 4,655 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $55.00, for a total transaction of $256,025.00. Following the completion of the sale, the director owned 25,975 shares of the company’s stock, valued at approximately $1,428,625. This trade represents a 15.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 79,757 shares of company stock worth $3,541,120. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Life360

A number of large investors have recently made changes to their positions in LIF. Strive Financial Group LLC purchased a new stake in shares of Life360 during the 4th quarter valued at $26,000. MCF Advisors LLC purchased a new position in Life360 during the 4th quarter worth $32,000. NewEdge Advisors LLC purchased a new position in Life360 during the 3rd quarter worth $32,000. IFP Advisors Inc acquired a new position in Life360 during the 3rd quarter valued at about $47,000. Finally, Advisors Asset Management Inc. increased its position in Life360 by 136.6% during the 4th quarter. Advisors Asset Management Inc. now owns 899 shares of the company’s stock valued at $58,000 after buying an additional 519 shares in the last quarter. 20.00% of the stock is owned by institutional investors and hedge funds.

Life360 Company Profile

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.