NortonLifeLock Target of Unusually High Options Trading (NASDAQ:NLOK)

NortonLifeLock Inc. (NASDAQ:NLOKGet Rating) saw unusually large options trading activity on Monday. Investors acquired 5,834 call options on the stock. This is an increase of approximately 62% compared to the average daily volume of 3,605 call options.

NortonLifeLock Stock Performance

Shares of NLOK opened at $24.78 on Wednesday. The stock has a market capitalization of $14.37 billion, a P/E ratio of 17.57 and a beta of 0.70. The company’s fifty day moving average is $23.51 and its two-hundred day moving average is $25.63. NortonLifeLock has a 1 year low of $21.55 and a 1 year high of $30.92.

NortonLifeLock (NASDAQ:NLOKGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $709.62 million. NortonLifeLock had a net margin of 29.90% and a negative return on equity of 444.77%. NortonLifeLock’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. Sell-side analysts predict that NortonLifeLock will post 1.68 EPS for the current year.

NortonLifeLock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Wednesday, June 8th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, June 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.02%. NortonLifeLock’s dividend payout ratio (DPR) is presently 35.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NLOK shares. StockNews.com raised shares of NortonLifeLock from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. Robert W. Baird cut their target price on shares of NortonLifeLock from $31.00 to $28.00 in a report on Monday, May 9th. Finally, TheStreet cut shares of NortonLifeLock from a “b-” rating to a “c+” rating in a report on Tuesday, July 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.25.

Insiders Place Their Bets

In related news, Director Peter A. Feld bought 500,000 shares of the stock in a transaction on Wednesday, June 15th. The stock was bought at an average price of $22.03 per share, with a total value of $11,015,000.00. Following the completion of the purchase, the director now directly owns 2,024,896 shares in the company, valued at approximately $44,608,458.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 acquired at an average price of $22.03 per share, with a total value of $11,015,000.00. Following the completion of the purchase, the director now owns 2,024,896 shares in the company, valued at approximately $44,608,458.88. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter A. Feld acquired 1,400,000 shares of the stock in a transaction dated Monday, June 13th. The stock was acquired at an average cost of $22.38 per share, with a total value of $31,332,000.00. Following the purchase, the director now owns 9,181,938 shares of the company’s stock, valued at approximately $205,491,772.44. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NortonLifeLock

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baystate Wealth Management LLC acquired a new position in shares of NortonLifeLock during the 2nd quarter worth $139,000. Mount Yale Investment Advisors LLC grew its stake in shares of NortonLifeLock by 123.9% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 22,082 shares of the company’s stock worth $485,000 after purchasing an additional 12,219 shares during the period. Advisory Services Network LLC grew its stake in shares of NortonLifeLock by 7.6% during the 2nd quarter. Advisory Services Network LLC now owns 51,066 shares of the company’s stock worth $1,121,000 after purchasing an additional 3,622 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of NortonLifeLock by 17.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 425,855 shares of the company’s stock worth $9,352,000 after purchasing an additional 62,848 shares during the period. Finally, Banque Cantonale Vaudoise grew its stake in shares of NortonLifeLock by 439.6% during the 2nd quarter. Banque Cantonale Vaudoise now owns 60,391 shares of the company’s stock worth $1,326,000 after purchasing an additional 49,200 shares during the period. 94.59% of the stock is owned by institutional investors and hedge funds.

NortonLifeLock Company Profile

(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.

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