Symantec (NASDAQ:SYMC) had its price target cut by Morgan Stanley from $33.00 to $31.00 in a research note issued on Thursday. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price suggests a potential upside of 13.30% from the company’s previous close.
A number of other research analysts also recently commented on the company. Barclays dropped their price objective on Symantec from $36.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday. Cowen reiterated a “sell” rating and issued a $26.00 price objective on shares of Symantec in a report on Thursday. Stifel Nicolaus dropped their price objective on Symantec from $27.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday. Robert W. Baird reiterated a “hold” rating on shares of Symantec in a report on Thursday. Finally, Evercore ISI reiterated a “hold” rating and issued a $25.00 price objective on shares of Symantec in a report on Thursday. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. Symantec currently has an average rating of “Hold” and an average price target of $30.81.
Symantec (NASDAQ SYMC) traded up $0.13 on Thursday, hitting $27.36. The stock had a trading volume of 13,735,842 shares, compared to its average volume of 7,548,088. Symantec has a fifty-two week low of $25.65 and a fifty-two week high of $34.20. The stock has a market cap of $16,503.92, a P/E ratio of -68.40, a P/E/G ratio of 2.69 and a beta of 1.08. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.72.
In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the completion of the sale, the executive vice president now directly owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nicholas R. Noviello sold 375,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $29.38, for a total value of $11,017,500.00. Following the sale, the chief financial officer now directly owns 565,319 shares of the company’s stock, valued at $16,609,072.22. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of SYMC. Janus Henderson Group PLC lifted its position in Symantec by 10,624.9% during the 2nd quarter. Janus Henderson Group PLC now owns 9,578,167 shares of the technology company’s stock worth $270,583,000 after acquiring an additional 9,488,859 shares during the period. Kensico Capital Management Corp acquired a new stake in shares of Symantec in the 3rd quarter valued at approximately $225,241,000. CI Global Investments Inc. lifted its holdings in shares of Symantec by 50.6% in the 3rd quarter. CI Global Investments Inc. now owns 9,942,972 shares of the technology company’s stock valued at $326,229,000 after buying an additional 3,338,984 shares during the period. CI Investments Inc. lifted its holdings in shares of Symantec by 78.1% in the 3rd quarter. CI Investments Inc. now owns 5,179,891 shares of the technology company’s stock valued at $169,952,000 after buying an additional 2,271,520 shares during the period. Finally, ETF Managers Group LLC acquired a new stake in shares of Symantec in the 2nd quarter valued at approximately $39,839,000. 94.86% of the stock is owned by institutional investors.
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About Symantec
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security, Cloud, Data Center Security and Cloud Workload Protection products.
