Initiates Coverage on NortonLifeLock (NASDAQ:NLOK)

Research analysts at began coverage on shares of NortonLifeLock (NASDAQ:NLOKGet Rating) in a report released on Wednesday. The firm set a “buy” rating on the stock.

Other research analysts have also issued reports about the stock. Barclays dropped their price target on shares of NortonLifeLock to $28.00 in a research note on Tuesday, August 9th. Morgan Stanley decreased their price objective on shares of NortonLifeLock from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Monday, November 7th.

NortonLifeLock Stock Up 1.7 %

Shares of NortonLifeLock stock opened at $22.61 on Wednesday. NortonLifeLock has a 52-week low of $20.12 and a 52-week high of $30.92. The company’s 50-day simple moving average is $21.62 and its 200-day simple moving average is $22.98. The firm has a market cap of $12.92 billion, a price-to-earnings ratio of 15.81 and a beta of 0.76.

Insider Buying and Selling

In related news, President Ondrej Vlcek acquired 456,475 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were purchased at an average price of $21.91 per share, with a total value of $10,001,367.25. Following the completion of the acquisition, the president now owns 3,453,198 shares in the company, valued at $75,659,568.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is owned by insiders.

Institutional Trading of NortonLifeLock

Institutional investors have recently added to or reduced their stakes in the stock. Steward Financial Group LLC purchased a new stake in shares of NortonLifeLock in the first quarter valued at about $31,000. Elequin Capital LP purchased a new stake in shares of NortonLifeLock in the first quarter valued at about $38,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of NortonLifeLock in the third quarter valued at about $41,000. CoreCap Advisors LLC purchased a new stake in shares of NortonLifeLock in the second quarter valued at about $49,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of NortonLifeLock by 82.5% in the second quarter. Rosenberg Matthew Hamilton now owns 2,373 shares of the company’s stock valued at $53,000 after purchasing an additional 1,073 shares in the last quarter. Hedge funds and other institutional investors own 94.86% of the company’s stock.

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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