Morgan Stanley trimmed its position in NortonLifeLock Inc. (NASDAQ:NLOK) by 45.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,094,428 shares of the company’s stock after selling 923,259 shares during the period. Morgan Stanley’s holdings in NortonLifeLock were worth $20,476,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of NLOK. Capital World Investors acquired a new stake in shares of NortonLifeLock during the 4th quarter worth approximately $1,668,264,000. BlackRock Inc. lifted its holdings in NortonLifeLock by 8.1% in the first quarter. BlackRock Inc. now owns 45,170,494 shares of the company’s stock valued at $845,139,000 after acquiring an additional 3,372,482 shares during the last quarter. Franklin Resources Inc. purchased a new position in NortonLifeLock in the fourth quarter worth approximately $762,700,000. Geode Capital Management LLC increased its stake in NortonLifeLock by 10.9% during the first quarter. Geode Capital Management LLC now owns 10,206,835 shares of the company’s stock worth $190,634,000 after acquiring an additional 1,007,051 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new stake in NortonLifeLock in the fourth quarter valued at $252,629,000. Institutional investors own 88.19% of the company’s stock.
In other news, President Samir Kapuria sold 45,162 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $20.61, for a total value of $930,788.82. Following the sale, the president now directly owns 291,481 shares in the company, valued at approximately $6,007,423.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter A. Feld sold 10,900,195 shares of NortonLifeLock stock in a transaction on Monday, June 8th. The stock was sold at an average price of $20.97, for a total transaction of $228,577,089.15. Following the sale, the director now directly owns 40,008 shares of the company’s stock, valued at $838,967.76. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.
Shares of NASDAQ NLOK opened at $19.43 on Wednesday. The stock has a market cap of $11.26 billion, a P/E ratio of 3.23, a PEG ratio of 3.59 and a beta of 0.91. The business’s fifty day simple moving average is $20.51 and its 200-day simple moving average is $21.62. NortonLifeLock Inc. has a 12-month low of $15.12 and a 12-month high of $28.70. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 353.80.
NortonLifeLock (NASDAQ:NLOK) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The company had revenue of $610.00 million for the quarter, compared to the consensus estimate of $602.21 million. NortonLifeLock had a return on equity of 11.63% and a net margin of 125.92%. During the same quarter in the prior year, the business earned $0.16 EPS. On average, equities analysts forecast that NortonLifeLock Inc. will post 0.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.57%. NortonLifeLock’s payout ratio is 66.67%.
NLOK has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on NortonLifeLock from $19.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Citigroup increased their target price on shares of NortonLifeLock from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Credit Suisse Group lifted their price target on shares of NortonLifeLock from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Zacks Investment Research lowered shares of NortonLifeLock from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a report on Tuesday, April 14th. Finally, Mizuho increased their price objective on shares of NortonLifeLock from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $22.64.
NortonLifeLock Company Profile
NortonLifeLock Inc provides cyber security products, services, and solutions worldwide. The company offers Norton security solutions as a subscription service providing protection for devices against malware, viruses, adware, and ransomware on various platforms; and LifeLock identity theft protection solution that provides identity monitoring, alerts, and restoration to its customers.
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