Morgan Stanley Sells 923,259 Shares of NortonLifeLock Inc. (NASDAQ:NLOK)

Morgan Stanley decreased its holdings in NortonLifeLock Inc. (NASDAQ:NLOK) by 45.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,094,428 shares of the company’s stock after selling 923,259 shares during the period. Morgan Stanley owned 0.18% of NortonLifeLock worth $20,476,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NLOK. Capital World Investors purchased a new stake in shares of NortonLifeLock during the 4th quarter worth approximately $1,668,264,000. BlackRock Inc. increased its holdings in shares of NortonLifeLock by 8.1% in the 1st quarter. BlackRock Inc. now owns 45,170,494 shares of the company’s stock worth $845,139,000 after buying an additional 3,372,482 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of NortonLifeLock during the 4th quarter valued at about $762,700,000. Geode Capital Management LLC lifted its holdings in shares of NortonLifeLock by 10.9% in the 1st quarter. Geode Capital Management LLC now owns 10,206,835 shares of the company’s stock valued at $190,634,000 after acquiring an additional 1,007,051 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new position in NortonLifeLock in the fourth quarter worth about $252,629,000. 88.19% of the stock is currently owned by institutional investors.

A number of brokerages have issued reports on NLOK. Stifel Nicolaus upped their price objective on NortonLifeLock from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, May 15th. Zacks Investment Research lowered NortonLifeLock from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a report on Tuesday, April 14th. Mizuho lifted their price objective on shares of NortonLifeLock from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. They noted that the move was a valuation call. Credit Suisse Group boosted their price objective on shares of NortonLifeLock from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Finally, Oppenheimer restated a “hold” rating on shares of NortonLifeLock in a report on Friday, May 15th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $22.64.

In other NortonLifeLock news, Director Peter A. Feld sold 10,900,195 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $20.97, for a total transaction of $228,577,089.15. Following the transaction, the director now owns 40,008 shares of the company’s stock, valued at approximately $838,967.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Samir Kapuria sold 45,162 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $20.61, for a total transaction of $930,788.82. Following the completion of the sale, the president now owns 291,481 shares of the company’s stock, valued at approximately $6,007,423.41. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

NLOK stock opened at $19.43 on Wednesday. NortonLifeLock Inc. has a 12 month low of $15.12 and a 12 month high of $28.70. The firm’s 50-day moving average is $20.51 and its 200 day moving average is $21.62. The company has a market capitalization of $11.26 billion, a PE ratio of 3.23, a P/E/G ratio of 3.59 and a beta of 0.91. The company has a debt-to-equity ratio of 353.80, a current ratio of 1.17 and a quick ratio of 1.17.

NortonLifeLock (NASDAQ:NLOK) last issued its 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. The business had revenue of $610.00 million for the quarter, compared to the consensus estimate of $602.21 million. NortonLifeLock had a net margin of 125.92% and a return on equity of 11.63%. During the same period in the prior year, the firm earned $0.16 EPS. Sell-side analysts forecast that NortonLifeLock Inc. will post 0.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were paid a $0.125 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.50 annualized dividend and a yield of 2.57%. NortonLifeLock’s dividend payout ratio (DPR) is currently 66.67%.

About NortonLifeLock

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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Institutional Ownership by Quarter for NortonLifeLock (NASDAQ:NLOK)

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