Life360 (NASDAQ:LIF) Price Target Raised to $66.00

Life360 (NASDAQ:LIF) had its price objective upped by Bank of America from $60.00 to $66.00 in a research report released on Thursday,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. UBS Group lowered their price objective on Life360 from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Evercore set a $68.00 target price on Life360 in a report on Tuesday, May 12th. Wall Street Zen cut Life360 from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Citigroup upped their price target on Life360 from $60.15 to $66.65 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Macquarie Infrastructure assumed coverage on Life360 in a research report on Tuesday, April 28th. They set an “outperform” rating and a $32.20 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Life360 has an average rating of “Moderate Buy” and a consensus target price of $64.65.

Life360 Trading Down 2.5%

Shares of NASDAQ LIF opened at $53.79 on Thursday. The firm’s 50 day moving average price is $47.76 and its 200-day moving average price is $49.20. Life360 has a 52-week low of $37.01 and a 52-week high of $112.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.23 and a current ratio of 5.37. The company has a market cap of $4.36 billion, a PE ratio of 31.09 and a beta of 2.34.

Insider Activity at Life360

In other Life360 news, Director John Philip Coghlan sold 4,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $56.07, for a total transaction of $224,280.00. Following the transaction, the director owned 24,431 shares in the company, valued at $1,369,846.17. The trade was a 14.07% 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 company’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 value of $256,025.00. Following the transaction, the director directly owned 25,975 shares in the company, valued at approximately $1,428,625. This represents a 15.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 57,006 shares of company stock valued at $2,614,066. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LIF. Handelsbanken Fonder AB grew its holdings in Life360 by 2.4% in the second quarter. Handelsbanken Fonder AB now owns 25,300 shares of the company’s stock worth $1,401,000 after purchasing an additional 600 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Life360 by 44.0% in the second quarter. GAMMA Investing LLC now owns 1,861 shares of the company’s stock worth $103,000 after acquiring an additional 569 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Life360 during the 1st quarter valued at approximately $76,000. Bank of America Corp DE increased its position in shares of Life360 by 312.8% in the 1st quarter. Bank of America Corp DE now owns 407,296 shares of the company’s stock valued at $16,626,000 after acquiring an additional 308,632 shares during the period. Finally, Amundi purchased a new stake in Life360 during the 1st quarter valued at about $206,000. 20.00% of the stock is currently 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.