Harel Insurance Investments & Financial Services Ltd. Cuts Stake in NortonLifeLock Inc. (NASDAQ:NLOK)


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Harel Insurance Investments & Financial Services Ltd. lowered its stake in shares of NortonLifeLock Inc. (NASDAQ:NLOK) by 53.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,688 shares of the company’s stock after selling 24,557 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in NortonLifeLock were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the company. Wedbush Securities Inc. purchased a new position in NortonLifeLock during the first quarter valued at $446,000. Nisa Investment Advisors LLC grew its position in shares of NortonLifeLock by 3.4% during the first quarter. Nisa Investment Advisors LLC now owns 96,709 shares of the company’s stock valued at $2,056,000 after purchasing an additional 3,200 shares in the last quarter. Arden Trust Co bought a new stake in shares of NortonLifeLock in the first quarter worth about $236,000. Sequent Asset Management LLC bought a new stake in NortonLifeLock in the 1st quarter worth approximately $213,000. Finally, Private Advisor Group LLC increased its stake in NortonLifeLock by 2.1% in the 1st quarter. Private Advisor Group LLC now owns 24,494 shares of the company’s stock worth $521,000 after acquiring an additional 496 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.

NLOK opened at $21.62 on Tuesday. The business has a fifty day moving average of $21.66 and a 200 day moving average of $20.72. The stock has a market cap of $12.58 billion, a P/E ratio of 4.27, a PEG ratio of 2.78 and a beta of 0.79. NortonLifeLock Inc. has a 52-week low of $17.98 and a 52-week high of $24.40.

NortonLifeLock (NASDAQ:NLOK) last released its earnings results on Thursday, February 4th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.06. The business had revenue of $639.00 million during the quarter, compared to the consensus estimate of $630.24 million. NortonLifeLock had a return on equity of 33.48% and a net margin of 131.80%. Sell-side analysts anticipate that NortonLifeLock Inc. will post 1.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Monday, February 22nd were paid a $0.125 dividend. The ex-dividend date was Friday, February 19th. This represents a $0.50 dividend on an annualized basis and a yield of 2.31%. NortonLifeLock’s dividend payout ratio is currently 66.67%.

A number of research analysts recently weighed in on NLOK shares. Morgan Stanley raised their target price on shares of NortonLifeLock from $25.50 to $26.00 and gave the company an “overweight” rating in a report on Friday, February 5th. Credit Suisse Group boosted their target price on shares of NortonLifeLock from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, February 5th. Finally, Bank of America started coverage on shares of NortonLifeLock in a report on Monday, April 19th. They issued an “underperform” rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. NortonLifeLock presently has an average rating of “Hold” and an average target price of $24.20.

About NortonLifeLock

NortonLifeLock Inc provides cyber safety solutions for consumers worldwide. The company offers Norton security solutions as a subscription service providing protection for PCs, Macs, and mobile devices against malware, viruses, adware, ransomware, and other online threats on various platforms; and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.

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Institutional Ownership by Quarter for NortonLifeLock (NASDAQ:NLOK)

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