UBS Group Issues Positive Forecast for Life360 (NASDAQ:LIF) Stock Price

Life360 (NASDAQ:LIF) had its price objective hoisted by investment analysts at UBS Group from $57.00 to $71.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 14.11% from the stock’s previous close.

A number of other research firms have also weighed in on LIF. Canaccord Genuity Group increased their target price on shares of Life360 from $58.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Stifel Nicolaus dropped their price objective on Life360 from $52.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. JMP Securities lifted their price objective on Life360 from $55.00 to $62.00 and gave the stock a “market outperform” rating in a research report on Monday. Finally, Loop Capital upped their target price on Life360 from $52.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $58.67.

Life360 Stock Performance

Shares of Life360 stock opened at $62.22 on Monday. Life360 has a 52-week low of $28.94 and a 52-week high of $65.79. The company’s 50 day moving average price is $51.58 and its 200-day moving average price is $45.82. The stock has a market capitalization of $4.76 billion and a price-to-earnings ratio of 691.33.

Life360 (NASDAQ:LIF) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.09. Life360 had a net margin of 2.42% and a return on equity of 4.05%. The business had revenue of $103.62 million during the quarter, compared to analysts’ expectations of $101.48 million. As a group, equities research analysts forecast that Life360 will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Life360

In other news, Director Brit Morin sold 47,584 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $61.14, for a total transaction of $2,909,285.76. Following the sale, the director now owns 26,442 shares in the company, valued at approximately $1,616,663.88. The trade was a 64.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Russell John Burke sold 3,104 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $39.35, for a total transaction of $122,142.40. Following the completion of the sale, the chief financial officer now directly owns 181,857 shares in the company, valued at $7,156,072.95. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,485 shares of company stock valued at $5,563,017.

Hedge Funds Weigh In On Life360

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Life360 by 3,865.6% in the 1st quarter. Vanguard Group Inc. now owns 5,683,626 shares of the company’s stock worth $218,194,000 after purchasing an additional 5,540,302 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Life360 by 402.9% in the fourth quarter. Franklin Resources Inc. now owns 539,592 shares of the company’s stock worth $22,269,000 after acquiring an additional 432,292 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Life360 by 320.0% in the first quarter. Bank of New York Mellon Corp now owns 549,272 shares of the company’s stock worth $21,087,000 after acquiring an additional 418,493 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Life360 by 86.2% during the fourth quarter. Marshall Wace LLP now owns 411,326 shares of the company’s stock valued at $16,975,000 after acquiring an additional 190,422 shares in the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of Life360 by 1,233.3% during the fourth quarter. Citadel Advisors LLC now owns 200,781 shares of the company’s stock valued at $8,286,000 after acquiring an additional 185,722 shares in the last quarter. Institutional investors own 20.00% of the company’s stock.

Life360 Company Profile

Life360 Inc is a family connection and safety company. Its business category includes mobile app and Tile tracking devices with a range of services, including location sharing, safe driver reports and crash detection with emergency dispatch. Life360 Inc is based in SAN FRANCISCO.