Shares of NortonLifeLock Inc. (NASDAQ:NLOK – Get Rating) have been given a consensus recommendation of “Hold” by the seven analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $27.25.
A number of analysts have recently issued reports on NLOK shares. Morgan Stanley cut NortonLifeLock from an “overweight” rating to an “equal weight” rating and set a $28.00 price objective on the stock. in a research report on Tuesday, March 29th. Robert W. Baird lowered their price objective on NortonLifeLock from $31.00 to $28.00 in a research report on Monday, May 9th. TheStreet cut NortonLifeLock from a “b-” rating to a “c+” rating in a research report on Tuesday, July 5th. Finally, StockNews.com upgraded NortonLifeLock from a “hold” rating to a “buy” rating in a research report on Tuesday.
Insider Activity at NortonLifeLock
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In related news, Director Peter A. Feld purchased 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were acquired at an average price of $22.03 per share, with a total value of $11,015,000.00. Following the purchase, the director now directly owns 2,024,896 shares in the company, valued at $44,608,458.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Peter A. Feld purchased 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were acquired at an average price of $22.03 per share, with a total value of $11,015,000.00. Following the purchase, the director now directly owns 2,024,896 shares in the company, valued at $44,608,458.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter A. Feld acquired 1,400,000 shares of NortonLifeLock stock in a transaction on Monday, June 13th. The stock was acquired at an average cost of $22.38 per share, for a total transaction of $31,332,000.00. Following the purchase, the director now owns 9,181,938 shares of the company’s stock, valued at approximately $205,491,772.44. The disclosure for this purchase can be found here. 3.20% of the stock is owned by insiders.
Hedge Funds Weigh In On NortonLifeLock
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hartford Investment Management Co. boosted its stake in NortonLifeLock by 32.0% in the second quarter. Hartford Investment Management Co. now owns 105,163 shares of the company’s stock worth $2,309,000 after purchasing an additional 25,475 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in NortonLifeLock in the second quarter worth $8,340,000. UMB Bank n.a. boosted its stake in NortonLifeLock by 62.3% in the second quarter. UMB Bank n.a. now owns 12,246 shares of the company’s stock worth $269,000 after purchasing an additional 4,700 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in NortonLifeLock by 8.1% in the second quarter. Exchange Traded Concepts LLC now owns 40,230 shares of the company’s stock worth $883,000 after purchasing an additional 3,018 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in NortonLifeLock by 3.4% in the second quarter. Commonwealth Equity Services LLC now owns 75,716 shares of the company’s stock worth $1,662,000 after purchasing an additional 2,516 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.
NortonLifeLock Stock Up 1.7 %
Shares of NASDAQ NLOK opened at $25.43 on Friday. The business’s 50 day moving average is $23.45 and its two-hundred day moving average is $25.74. The company has a market cap of $14.75 billion, a P/E ratio of 18.04 and a beta of 0.68. NortonLifeLock has a 12 month low of $21.55 and a 12 month high of $30.92.
NortonLifeLock (NASDAQ:NLOK – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $709.62 million. NortonLifeLock had a negative return on equity of 444.77% and a net margin of 29.90%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS. Sell-side analysts expect that NortonLifeLock will post 1.68 earnings per share for the current fiscal year.
NortonLifeLock Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Wednesday, June 8th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.97%. The ex-dividend date was Tuesday, June 7th. NortonLifeLock’s dividend payout ratio is 35.46%.
About NortonLifeLock
NortonLifeLock Inc provides cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers Norton 360, an integrated platform provides extensive cyber safety coverage and a subscription service providing protection for PCs, Macs, and mobile devices against malware, viruses, adware, ransomware, and other online threats on various platforms; and Norton and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.
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Read More: NortonLifeLock Inc. (NASDAQ:NLOK) Receives Average Rating of “Hold” from Analysts