Harel Insurance Investments & Financial Services Ltd. cut its holdings of NortonLifeLock Inc. (NASDAQ: NLOK – Get Rating) stock by 48.5% in the first quarter, reports Holdings Channel.com. The institutional investor held 3,394 shares of the company after selling 3,202 shares during the quarter. The holdings of Harel Insurance Investments & Financial Services Ltd. in NortonLifeLock were worth $90,000 at the end of the most recent reporting period.
A number of other large investors also changed their stake in the company. BlackRock Inc. increased its position in NortonLifeLock shares by 2.8% during the fourth quarter. BlackRock Inc. now owns 46,285,465 shares of the company valued at $1,202,497,000 after acquiring an additional 1,248,493 shares in the last quarter. State Street Corp increased its position in NortonLifeLock shares by 3.8% during the fourth quarter. State Street Corp now owns 25,944,974 shares of the company valued at $674,050,000 after acquiring an additional 953,733 shares in the last quarter. Boston Partners increased its position in NortonLifeLock shares by 26.8% during the fourth quarter. Boston Partners now owns 22,434,260 shares of the company valued at $583,041,000 after acquiring 4,748,508 additional shares in the last quarter. Alliancebernstein LP increased its position in NortonLifeLock shares by 2.7% during the fourth quarter. Alliancebernstein LP now owns 17,913,984 shares of the company valued at $465,405,000 after acquiring an additional 464,436 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in NortonLifeLock shares by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 11,390,347 shares of the company valued at $295,347,000 after acquiring an additional 241,058 shares in the last quarter. Hedge funds and other institutional investors hold 94.59% of the company’s shares.
NortonLifeLock Price Performance
The NASDAQ NLOK opened at $25.43 on Monday. The stock has a market capitalization of $14.75 billion, a P/E ratio of 18.04 and a beta of 0.68. The company’s 50-day moving average is $23.45 and its two-hundred-day moving average is $25.73. NortonLifeLock Inc. has a 12 month minimum of $21.55 and a 12 month maximum of $30.92.
NortonLifeLock (NASDAQ:NLOK – Get Rating) last released its quarterly results on Thursday, May 5. The company reported earnings per share (EPS) of $0.44 for the quarter, beating analyst consensus estimates of $0.43 by $0.01. The company posted revenue of $716.00 million for the quarter, versus analyst estimates of $709.62 million. NortonLifeLock had a net margin of 29.90% and a negative return on equity of 444.77%. The company’s revenue for the quarter increased by 6.5% compared to the same quarter last year. In the same period a year earlier, the company earned earnings per share of $0.38. As a group, analysts expect NortonLifeLock Inc. to post EPS of 1.68 for the current year.
NortonLifeLock Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 22. Shareholders of record on Wednesday, June 8 received a dividend of $0.125 per share. The ex-dividend date was Tuesday, June 7. This represents a dividend of $0.50 on an annualized basis and a yield of 1.97%. NortonLifeLock’s dividend payout ratio (DPR) is currently 35.46%.
Insiders place their bets
In other NortonLifeLock news, Director Peter A. Feld purchased 500,000 shares of the company in a trade on Wednesday, June 15. The shares were purchased at an average cost of $22.03 per share, for a total transaction of $11,015,000.00. Following the completion of the purchase, the director now directly owns 2,024,896 shares of the company, valued at $44,608,458.88. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. In other news, Director Peter A. Feld purchased 1,400,000 shares of the company in a transaction that took place on Monday, June 13. The shares were purchased at an average cost of $22.38 per share, for a total transaction of $31,332,000.00. Following the completion of the purchase, the director now owns 9,181,938 shares of the company, valued at $205,491,772.44. The acquisition was disclosed in a filing with the SEC, which is available via this hyperlink. Additionally, director Peter A. Feld purchased 500,000 shares of the company in a transaction that took place on Wednesday, June 15. The shares were purchased at an average price of $22.03 per share, for a total transaction of $11,015,000.00. Following the completion of the purchase, the director now directly owns 2,024,896 shares of the company, valued at approximately $44,608,458.88. Disclosure of this purchase can be found here. Insiders hold 3.20% of the shares of the company.
Analysts set new price targets
Several research analysts have recently weighed in on the stock. Robert W. Baird lowered his price target on NortonLifeLock shares from $31.00 to $28.00 in a Monday, May 9 research report. StockNews.com upgraded NortonLifeLock shares from a “hold” rating to a “buy” rating in a Tuesday, July 19 research report. Morgan Stanley cut NortonLifeLock shares from an “overweight” rating to an “equal weight” rating and set a target price of $28.00 for the stock. in a research report on Tuesday, March 29. Finally, TheStreet reduced shares of NortonLifeLock from a “b-” rating to a “c+” rating in a Tuesday, July 5 research report. Three analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.25.
NortonLifeLock Company Profile
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NortonLifeLock Inc provides cybersecurity solutions to consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, Asia-Pacific and Japan. It offers Norton 360, an integrated platform offering extensive cybersecurity coverage and a subscription service offering protection for PCs, Macs and mobile devices against malware, viruses, adware, ransomware and other online threats on various platforms; and identity theft protection solution Norton and LifeLock which offers monitoring, alerting and recovery services to its customers.
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