Life360 (NASDAQ:LIF) Releases Quarterly Earnings Results, Beats Expectations By $1.22 EPS

Life360 (NASDAQ:LIF) released its quarterly earnings results on Monday. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.29 by $1.22, FiscalAI reports. Life360 had a net margin of 6.46% and a return on equity of 7.95%. The business had revenue of $145.98 million for the quarter, compared to analysts’ expectations of $141.20 million.

Life360 Stock Up 2.2%

LIF traded up $1.14 during trading hours on Monday, hitting $53.79. 1,275,673 shares of the company’s stock were exchanged, compared to its average volume of 978,971. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 158.21 and a beta of 3.84. Life360 has a 1-year low of $29.62 and a 1-year high of $112.54. The stock’s 50-day moving average is $58.39 and its two-hundred day moving average is $78.03. The company has a quick ratio of 6.62, a current ratio of 6.80 and a debt-to-equity ratio of 0.79.

Insider Buying and Selling

In related news, Director Charles J. Prober sold 7,930 shares of Life360 stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $68.30, for a total value of $541,619.00. Following the sale, the director owned 105,456 shares of the company’s stock, valued at approximately $7,202,644.80. The trade was a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Goines sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $74.19, for a total value of $1,112,850.00. Following the transaction, the director directly owned 56,809 shares in the company, valued at $4,214,659.71. This trade represents a 20.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,126 shares of company stock worth $4,361,969 over the last three months.

Hedge Funds Weigh In On Life360

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LIF. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Life360 by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,175 shares of the company’s stock valued at $237,000 after purchasing an additional 378 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Life360 by 12.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 138,748 shares of the company’s stock valued at $5,327,000 after buying an additional 15,420 shares during the last quarter. Strs Ohio bought a new position in Life360 in the 1st quarter valued at about $157,000. New York State Common Retirement Fund lifted its position in Life360 by 59.4% during the second quarter. New York State Common Retirement Fund now owns 5,100 shares of the company’s stock worth $333,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Life360 by 1,065.1% during the second quarter. Invesco Ltd. now owns 163,970 shares of the company’s stock worth $10,699,000 after acquiring an additional 149,896 shares during the period. 20.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LIF shares. Stifel Nicolaus decreased their price target on Life360 from $92.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, January 27th. Citigroup reiterated a “buy” rating on shares of Life360 in a report on Tuesday, January 27th. Canaccord Genuity Group reissued a “buy” rating and set a $115.00 target price on shares of Life360 in a research note on Tuesday, December 16th. Zacks Research lowered shares of Life360 from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen raised shares of Life360 from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.31.

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.