NortonLifeLock Inc. (NASDAQ:NLOK) Receives Consensus Rating of “Hold” from Brokerages

NortonLifeLock Inc. (NASDAQ:NLOK – Get Rating) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $27.25.

Several equities research analysts recently weighed in on the company. Robert W. Baird cut their price objective on NortonLifeLock from $31.00 to $28.00 in a report on Monday, May 9th. StockNews.com raised NortonLifeLock from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley downgraded NortonLifeLock from an “overweight” rating to an “equal weight” rating and set a $28.00 target price on the stock. in a report on Tuesday, March 29th. Finally, TheStreet downgraded NortonLifeLock from a “b-” rating to a “c+” rating in a report on Tuesday, July 5th.

Insiders Place Their Bets

In other NortonLifeLock news, Director Peter A. Feld acquired 500,000 shares of the stock in a transaction dated Wednesday, June 15th. The stock was purchased at an average cost of $22.03 per share, with a total value of $11,015,000.00. Following the transaction, the director now owns 2,024,896 shares in the company, valued at approximately $44,608,458.88. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other NortonLifeLock news, Director Peter A. Feld acquired 1,400,000 shares of the stock in a transaction dated Monday, June 13th. The stock was purchased at an average cost of $22.38 per share, with a total value of $31,332,000.00. Following the transaction, the director now owns 9,181,938 shares in the company, valued at approximately $205,491,772.44. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter A. Feld acquired 500,000 shares of the stock in a transaction dated Wednesday, June 15th. The stock was acquired at an average cost of $22.03 per share, with a total value of $11,015,000.00. Following the completion of the transaction, the director now owns 2,024,896 shares in the company, valued at approximately $44,608,458.88. The disclosure for this purchase can be found here. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC increased its position in NortonLifeLock by 86.0% in the 4th quarter. Larson Financial Group LLC now owns 1,198 shares of the company’s stock valued at $31,000 after buying an additional 554 shares in the last quarter. Steward Financial Group LLC bought a new stake in NortonLifeLock in the 1st quarter valued at about $31,000. Elequin Capital LP bought a new stake in NortonLifeLock in the 1st quarter valued at about $38,000. UMB Bank N A MO bought a new stake in NortonLifeLock in the 4th quarter valued at about $45,000. Finally, Desjardins Global Asset Management Inc. bought a new stake in NortonLifeLock in the 4th quarter valued at about $48,000. 94.59% of the stock is owned by institutional investors.

NortonLifeLock Stock Up 1.7 %

NASDAQ NLOK opened at $25.43 on Friday. NortonLifeLock has a twelve month low of $21.55 and a twelve month high of $30.92. The company has a market cap of $14.75 billion, a price-to-earnings ratio of 18.04 and a beta of 0.68. The business’s fifty day moving average is $23.45 and its 200 day moving average is $25.74.

NortonLifeLock (NASDAQ:NLOK – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. NortonLifeLock had a negative return on equity of 444.77% and a net margin of 29.90%. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $709.62 million. During the same quarter last year, the business posted $0.38 EPS. NortonLifeLock’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts anticipate that NortonLifeLock will post 1.68 earnings per share for the current fiscal year.

NortonLifeLock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Wednesday, June 8th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Tuesday, June 7th. NortonLifeLock’s payout ratio is presently 35.46%.

About NortonLifeLock

(Get Rating)

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.