Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of NortonLifeLock Inc. (NASDAQ:NLOK) by 48.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 230,221 shares of the company’s stock after selling 220,747 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NortonLifeLock were worth $4,565,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Capital World Investors increased its position in NortonLifeLock by 11.6% during the 1st quarter. Capital World Investors now owns 72,985,464 shares of the company’s stock valued at $1,365,558,000 after buying an additional 7,614,607 shares in the last quarter. BlackRock Inc. increased its stake in shares of NortonLifeLock by 8.1% in the first quarter. BlackRock Inc. now owns 45,170,494 shares of the company’s stock worth $845,139,000 after purchasing an additional 3,372,482 shares in the last quarter. AQR Capital Management LLC raised its position in shares of NortonLifeLock by 1,630.1% during the 1st quarter. AQR Capital Management LLC now owns 13,086,722 shares of the company’s stock valued at $244,853,000 after purchasing an additional 12,330,292 shares during the period. Geode Capital Management LLC lifted its stake in shares of NortonLifeLock by 10.9% during the 1st quarter. Geode Capital Management LLC now owns 10,206,835 shares of the company’s stock valued at $190,634,000 after buying an additional 1,007,051 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in shares of NortonLifeLock by 15.2% during the 1st quarter. Pictet Asset Management Ltd. now owns 9,119,953 shares of the company’s stock valued at $170,634,000 after buying an additional 1,204,648 shares in the last quarter. 89.90% of the stock is owned by institutional investors.
In related news, President Samir Kapuria sold 45,162 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $20.61, for a total value of $930,788.82. Following the completion of the transaction, the president now owns 291,481 shares in the company, valued at approximately $6,007,423.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter A. Feld sold 10,900,195 shares of NortonLifeLock stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $20.97, for a total value of $228,577,089.15. Following the sale, the director now directly owns 40,008 shares of the company’s stock, valued at approximately $838,967.76. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
A number of research firms have commented on NLOK. Morgan Stanley raised their price target on NortonLifeLock from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Credit Suisse Group boosted their target price on shares of NortonLifeLock from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. UBS Group upped their target price on shares of NortonLifeLock from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Citigroup lifted their price target on shares of NortonLifeLock from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Robert W. Baird raised shares of NortonLifeLock from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $24.00 to $25.00 in a report on Monday, June 8th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $22.73.
NortonLifeLock stock opened at $21.45 on Friday. NortonLifeLock Inc. has a 12-month low of $15.12 and a 12-month high of $28.70. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 353.80. The firm has a 50-day moving average price of $20.17 and a 200-day moving average price of $20.75. The firm has a market capitalization of $12.63 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 3.98 and a beta of 0.89.
NortonLifeLock (NASDAQ:NLOK) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.07. NortonLifeLock had a net margin of 125.92% and a return on equity of 11.63%. The firm had revenue of $610.00 million for the quarter, compared to analysts’ expectations of $602.21 million. During the same period in the prior year, the business posted $0.16 earnings per share. As a group, sell-side analysts predict that NortonLifeLock Inc. will post 0.9 earnings per share for the current fiscal year.
NortonLifeLock Company Profile
NortonLifeLock Inc provides cyber security products, services, and solutions worldwide. The company offers Norton security solutions as a subscription service providing protection for devices against malware, viruses, adware, and ransomware on various platforms; and LifeLock identity theft protection solution that provides identity monitoring, alerts, and restoration to its customers.
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