Citigroup Has Lowered Expectations for Life360 (NASDAQ:LIF) Stock Price

Life360 (NASDAQ:LIF) had its target price dropped by investment analysts at Citigroup from $60.10 to $60.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup‘s price objective suggests a potential upside of 35.01% from the company’s current price.

A number of other research firms also recently commented on LIF. Bank of America increased their price objective on shares of Life360 from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. UBS Group dropped their target price on shares of Life360 from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Life360 from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 4th. Wall Street Zen raised Life360 from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Finally, DA Davidson restated a “neutral” rating and set a $40.00 price objective on shares of Life360 in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Life360 has a consensus rating of “Moderate Buy” and a consensus price target of $59.93.

Life360 Stock Down 2.3%

Shares of Life360 stock traded down $1.05 during trading hours on Friday, hitting $44.44. 519,604 shares of the company’s stock traded hands, compared to its average volume of 941,845. The stock has a 50 day simple moving average of $42.65 and a 200-day simple moving average of $47.35. The company has a quick ratio of 5.46, a current ratio of 5.60 and a debt-to-equity ratio of 0.51. The company has a market cap of $3.62 billion, a PE ratio of 25.99 and a beta of 2.27. Life360 has a twelve month low of $37.01 and a twelve month high of $99.99.

Life360 (NASDAQ:LIF) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Life360 had a net margin of 25.73% and a return on equity of 5.66%. The business had revenue of $158.96 million during the quarter, compared to analysts’ expectations of $156.68 million. Equities research analysts anticipate that Life360 will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Chris Hulls sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $46.84, for a total transaction of $11,710,000.00. Following the completion of the transaction, the director directly owned 382,056 shares of the company’s stock, valued at approximately $17,895,503.04. This represents a 39.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles J. Prober sold 7,930 shares of the stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $43.29, for a total value of $343,289.70. Following the sale, the director owned 109,930 shares in the company, valued at $4,758,869.70. The trade was a 6.73% 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. Insiders have sold 456,790 shares of company stock valued at $21,269,295 over the last quarter. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Life360

Hedge funds and other institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC increased its stake in Life360 by 872.7% during the 3rd quarter. Sterling Capital Management LLC now owns 642 shares of the company’s stock valued at $26,000 after buying an additional 576 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Life360 in the 1st quarter worth approximately $76,000. Royal Bank of Canada boosted its holdings in shares of Life360 by 85.5% in the first quarter. Royal Bank of Canada now owns 2,059 shares of the company’s stock valued at $84,000 after acquiring an additional 949 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Life360 by 44.0% in the second quarter. GAMMA Investing LLC now owns 1,861 shares of the company’s stock valued at $103,000 after acquiring an additional 569 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Life360 during the second quarter valued at approximately $126,000. Institutional investors and hedge funds own 20.00% of the company’s stock.

Life360 Company Profile

Life360, Inc is a technology company that develops connected safety and security products for families, individuals and pets. Its primary offering is the Life360 mobile application, which provides location sharing, family communication, driving safety tools, emergency assistance and other features intended to help users coordinate and stay connected.

The company also offers services such as crash detection, roadside assistance, SOS support and digital safety features. Through its ownership of Tile, Life360 provides Bluetooth-enabled finding devices and related tracking services for personal belongings.