NorthCrest Asset Manangement LLC increased its position in shares of NortonLifeLock Inc. (NASDAQ:NLOK – Get Rating) by 4.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,765 shares of the company's stock after buying an additional 1,020 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in NortonLifeLock were worth $500,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Wealthfront Advisers LLC grew its stake in NortonLifeLock by 0.3% in the first quarter. Wealthfront Advisers LLC now owns 140,080 shares of the company's stock valued at $3,715,000 after purchasing an additional 428 shares in the last quarter. Allworth Financial LP grew its stake in NortonLifeLock by 28.8% in the first quarter. Allworth Financial LP now owns 1,944 shares of the company's stock valued at $52,000 after purchasing an additional 435 shares in the last quarter. Sentry Investment Management LLC grew its stake in NortonLifeLock by 10.4% in the first quarter. Sentry Investment Management LLC now owns 4,662 shares of the company's stock valued at $124,000 after purchasing an additional 438 shares in the last quarter. Eqis Capital Management Inc. grew its stake in NortonLifeLock by 2.8% in the first quarter. Eqis Capital Management Inc. now owns 16,826 shares of the company's stock valued at $446,000 after purchasing an additional 459 shares in the last quarter. Finally, M&T Bank Corp grew its stake in NortonLifeLock by 2.6% in the first quarter. M&T Bank Corp now owns 19,460 shares of the company's stock valued at $516,000 after purchasing an additional 502 shares in the last quarter. 94.86% of the stock is currently owned by institutional investors.
Get NortonLifeLock alerts:Wall Street Analyst Weigh In
NLOK has been the subject of a number of analyst reports. Barclays decreased their price target on NortonLifeLock to $28.00 in a research note on Tuesday, August 9th. StockNews.com upgraded NortonLifeLock from a "hold" rating to a "buy" rating in a research note on Monday, September 12th. Finally, TheStreet downgraded NortonLifeLock from a "b-" rating to a "c+" rating in a research note on Tuesday, July 5th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, NortonLifeLock presently has a consensus rating of "Moderate Buy" and an average price target of $27.40.
NortonLifeLock Trading Down 0.8 %
Shares of NASDAQ NLOK opened at $20.51 on Tuesday. NortonLifeLock Inc. has a 12 month low of $20.38 and a 12 month high of $30.92. The stock has a 50 day moving average of $23.36 and a 200-day moving average of $24.33. The company has a market capitalization of $11.72 billion, a P/E ratio of 14.34 and a beta of 0.71.NortonLifeLock (NASDAQ:NLOK – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The company had revenue of $708.00 million during the quarter, compared to the consensus estimate of $711.32 million. NortonLifeLock had a negative return on equity of 565.66% and a net margin of 30.35%. Analysts predict that NortonLifeLock Inc. will post 1.69 EPS for the current fiscal year.
NortonLifeLock Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 22nd were issued a dividend of $0.125 per share. The ex-dividend date was Friday, August 19th. This represents a $0.50 annualized dividend and a yield of 2.44%. NortonLifeLock's payout ratio is currently 34.97%.
Insider Buying and Selling
In other news, President Ondrej Vlcek purchased 456,475 shares of the company's stock in a transaction that occurred on Thursday, September 15th. The stock was acquired at an average cost of $21.91 per share, with a total value of $10,001,367.25. Following the acquisition, the president now owns 3,453,198 shares in the company, valued at approximately $75,659,568.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is currently owned by insiders.
About NortonLifeLock
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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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