NortonLifeLock Inc. (NASDAQ:NLOK) is Totem Point Management LLC’s 10th Largest Position

Totem Point Management LLC cut its position in shares of NortonLifeLock Inc. (NASDAQ:NLOKGet Rating) by 53.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 278,611 shares of the company’s stock after selling 316,945 shares during the period. NortonLifeLock makes up 5.8% of Totem Point Management LLC’s portfolio, making the stock its 10th largest holding. Totem Point Management LLC’s holdings in NortonLifeLock were worth $7,389,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Steward Financial Group LLC purchased a new stake in NortonLifeLock in the 1st quarter valued at about $31,000. UMB Bank N A MO purchased a new stake in NortonLifeLock in the 4th quarter valued at about $45,000. Allworth Financial LP boosted its position in NortonLifeLock by 28.8% in the 1st quarter. Allworth Financial LP now owns 1,944 shares of the company’s stock valued at $52,000 after buying an additional 435 shares during the period. Prospera Financial Services Inc purchased a new stake in NortonLifeLock in the 1st quarter valued at about $60,000. Finally, Sentry Investment Management LLC boosted its position in NortonLifeLock by 10.4% in the 1st quarter. Sentry Investment Management LLC now owns 4,662 shares of the company’s stock valued at $124,000 after buying an additional 438 shares during the period. 94.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NortonLifeLock

In other NortonLifeLock news, Director Peter A. Feld acquired 1,400,000 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were purchased at an average price of $22.38 per share, for a total transaction of $31,332,000.00. Following the completion of the purchase, the director now directly owns 9,181,938 shares of the company’s stock, valued at $205,491,772.44. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other NortonLifeLock news, Director Peter A. Feld acquired 500,000 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were purchased at an average price of $22.03 per share, for a total transaction of $11,015,000.00. Following the completion of the purchase, the director now directly owns 2,024,896 shares of the company’s stock, valued at $44,608,458.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter A. Feld acquired 1,400,000 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was acquired at an average price of $22.38 per share, for a total transaction of $31,332,000.00. Following the purchase, the director now directly owns 9,181,938 shares of the company’s stock, valued at $205,491,772.44. The disclosure for this purchase can be found here. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NLOK. TheStreet cut shares of NortonLifeLock from a “b-” rating to a “c+” rating in a research report on Tuesday, July 5th. Barclays lowered their price target on shares of NortonLifeLock to $28.00 in a research report on Tuesday, August 9th. Finally, StockNews.com cut shares of NortonLifeLock from a “buy” rating to a “hold” rating in a research report on Friday, September 2nd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.40.

NortonLifeLock Stock Down 2.8 %

NASDAQ NLOK opened at $22.73 on Friday. NortonLifeLock Inc. has a 52 week low of $21.55 and a 52 week high of $30.92. The firm has a market cap of $12.99 billion, a PE ratio of 15.90 and a beta of 0.71. The company has a 50 day moving average price of $23.72 and a 200 day moving average price of $24.91.

NortonLifeLock (NASDAQ:NLOKGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. NortonLifeLock had a net margin of 30.35% and a negative return on equity of 565.66%. The business had revenue of $708.00 million for the quarter, compared to analyst estimates of $711.32 million. On average, equities research analysts anticipate that NortonLifeLock Inc. will post 1.69 earnings per share for the current fiscal year.

NortonLifeLock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 14th. Shareholders of record on Monday, August 22nd will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, August 19th. This represents a $0.50 dividend on an annualized basis and a yield of 2.20%. NortonLifeLock’s payout ratio is 34.97%.

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.

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Institutional Ownership by Quarter for NortonLifeLock (NASDAQ:NLOK)

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