Life360 (NASDAQ:LIF) Cut to Neutral at Bank of America

Bank of America downgraded shares of Life360 (NASDAQ:LIF) from a buy rating to a neutral rating in a research report released on Wednesday morning, MarketBeat Ratings reports. The firm currently has $45.00 price objective on the stock, down from their previous price objective of $60.00.

Several other analysts have also commented on the company. DA Davidson reissued a “neutral” rating and issued a $40.00 price objective on shares of Life360 in a report on Tuesday, September 29th. Weiss Ratings raised 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 research note on Saturday, September 19th. Citigroup decreased their target price on Life360 from $60.10 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Finally, Morgan Stanley set a $65.20 price target on shares of Life360 in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Life360 presently has an average rating of “Moderate Buy” and an average target price of $55.56.

Life360 Trading Up 0.5%

LIF stock opened at $43.93 on Wednesday. Life360 has a 52-week low of $37.01 and a 52-week high of $80.51. The company has a quick ratio of 5.46, a current ratio of 5.31 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.59 billion, a P/E ratio of 23.62 and a beta of 2.17. The company’s 50-day simple moving average is $42.92 and its 200-day simple moving average is $46.53.

Life360 (NASDAQ:LIF) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. The firm had revenue of $174.14 million during the quarter, compared to analyst estimates of $171.53 million. Life360 had a return on equity of 7.21% and a net margin of 25.71%. As a group, equities analysts forecast that Life360 will post 0.53 EPS for the current fiscal year.

Insider Transactions at Life360

In related news, Director John Coghlan sold 4,000 shares of Life360 stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $45.80, for a total value of $183,200.00. Following the sale, the director directly owned 8,431 shares in the company, valued at approximately $386,139.80. The trade was a 32.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Chris Hulls sold 250,000 shares of Life360 stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $46.84, for a total value of $11,710,000.00. Following the completion of the sale, the director owned 382,056 shares in the company, valued at approximately $17,895,503.04. The trade was a 39.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 411,159 shares of company stock worth $18,495,656 in the last three months. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Life360

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Life360 by 455.0% in the first quarter. Principal Financial Group Inc. now owns 463,442 shares of the company’s stock valued at $18,918,000 after buying an additional 379,941 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Life360 by 312.8% in the first quarter. Bank of America Corp DE now owns 407,296 shares of the company’s stock worth $16,626,000 after buying an additional 308,632 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Life360 during the second quarter worth about $15,547,000. Greenspring Advisors LLC acquired a new position in Life360 during the second quarter worth about $9,592,000. Finally, Legal & General Group Plc acquired a new position in Life360 during the second quarter worth about $9,467,000. 20.00% of the stock is owned by institutional investors and hedge funds.

About Life360

Life360 operates a family safety and location-sharing platform. Its mobile app helps families and other groups share locations, coordinate their activities and receive alerts about arrivals, departures and other events. The service also includes features such as driving insights, roadside assistance and emergency support. The company’s offerings include the Life360 app and Tile, its line of Bluetooth tracking devices and related services for finding everyday items. Together, these products provide location and safety tools for people, pets and belongings.