Life360 (NASDAQ:LIF) Stock Price Down 4.4% – Should You Sell?

Life360, Inc. (NASDAQ:LIF)’s share price fell 4.4% on Tuesday. The company traded as low as $42.06 and last traded at $42.1010. 53,117 shares were traded during trading, a decline of 94% from the average daily volume of 945,772 shares. The stock had previously closed at $44.02.

Analysts Set New Price Targets

LIF has been the subject of several research analyst reports. Bank of America raised their price target on shares of Life360 from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Citigroup dropped their price objective on Life360 from $66.65 to $60.10 and set a “buy” rating on the stock in a research note on Thursday, August 13th. DA Davidson reiterated a “neutral” rating and issued a $40.00 price objective on shares of Life360 in a research note on Tuesday, September 29th. Morgan Stanley set a $65.20 price objective on Life360 in a report on Wednesday, August 12th. Finally, Wall Street Zen raised Life360 from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Life360 Trading Down 2.1%

The firm has a fifty day moving average of $42.79 and a two-hundred day moving average of $47.66. The company has a market cap of $3.51 billion, a PE ratio of 25.16 and a beta of 2.27. The company has a current ratio of 5.60, a quick ratio of 5.46 and a debt-to-equity ratio of 0.51.

Life360 (NASDAQ:LIF) last released its quarterly earnings data on Monday, August 10th. The company reported $0.06 EPS 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 analysts’ expectations of $156.68 million. Life360 had a net margin of 25.73% and a return on equity of 5.66%. As a group, sell-side analysts predict that Life360, Inc. will post 0.53 EPS for the current year.

Insider Transactions at Life360

In related news, Director Charles Prober sold 7,930 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $48.59, for a total transaction of $385,318.70. Following the sale, the director directly owned 109,930 shares in the company, valued at approximately $5,341,498.70. This represents a 6.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brit Morin sold 10,701 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $642,060.00. Following the sale, the director owned 20,157 shares in the company, valued at $1,209,420. The trade was a 34.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 456,790 shares of company stock valued at $21,269,295. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in Life360 by 455.0% during the 1st quarter. Principal Financial Group Inc. now owns 463,442 shares of the company’s stock valued at $18,918,000 after acquiring an additional 379,941 shares during the period. Bank of America Corp DE lifted its position in shares of Life360 by 312.8% during the first quarter. Bank of America Corp DE now owns 407,296 shares of the company’s stock worth $16,626,000 after acquiring an additional 308,632 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Life360 during the second quarter worth $15,547,000. Dimensional Fund Advisors LP boosted its holdings in shares of Life360 by 19.5% in the first quarter. Dimensional Fund Advisors LP now owns 303,479 shares of the company’s stock worth $12,385,000 after acquiring an additional 49,429 shares during the period. Finally, Greenspring Advisors LLC bought a new position in shares of Life360 in the second quarter worth $9,592,000. 20.00% of the stock is currently owned by hedge funds and other institutional investors.

About Life360

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.