NorthCrest Asset Manangement LLC Makes New $585,000 Investment in NortonLifeLock Inc. (NASDAQ:NLOK)

NorthCrest Asset Manangement LLC acquired a new position in NortonLifeLock Inc. (NASDAQ:NLOKGet Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 22,515 shares of the company’s stock, valued at approximately $585,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. lifted its holdings in NortonLifeLock by 15.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,966 shares of the company’s stock worth $77,000 after buying an additional 402 shares during the period. State of Michigan Retirement System raised its position in shares of NortonLifeLock by 0.3% in the 4th quarter. State of Michigan Retirement System now owns 146,429 shares of the company’s stock worth $3,804,000 after acquiring an additional 500 shares in the last quarter. IndexIQ Advisors LLC raised its position in shares of NortonLifeLock by 5.5% in the 3rd quarter. IndexIQ Advisors LLC now owns 9,671 shares of the company’s stock worth $245,000 after acquiring an additional 507 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of NortonLifeLock by 6.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,085 shares of the company’s stock worth $236,000 after acquiring an additional 519 shares in the last quarter. Finally, Reilly Financial Advisors LLC raised its position in shares of NortonLifeLock by 11.1% in the 4th quarter. Reilly Financial Advisors LLC now owns 5,345 shares of the company’s stock worth $139,000 after acquiring an additional 533 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.

Several research analysts have recently issued reports on NLOK shares. Morgan Stanley lowered NortonLifeLock from an “overweight” rating to an “equal weight” rating and set a $28.00 target price for the company. in a research report on Tuesday, March 29th. TheStreet raised NortonLifeLock from a “c+” rating to a “b-” rating in a research report on Friday, February 18th. Finally, StockNews.com raised NortonLifeLock from a “hold” rating to a “buy” rating in a research report on Thursday, March 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $28.60.

Shares of NLOK opened at $25.04 on Thursday. The business’s fifty day simple moving average is $27.15 and its two-hundred day simple moving average is $26.45. NortonLifeLock Inc. has a 12 month low of $20.74 and a 12 month high of $30.92. The company has a market cap of $14.57 billion, a price-to-earnings ratio of 16.26 and a beta of 0.65.

NortonLifeLock (NASDAQ:NLOKGet Rating) last released its quarterly earnings results on Thursday, February 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.44. The firm had revenue of $704.00 million for the quarter. NortonLifeLock had a negative return on equity of 297.43% and a net margin of 33.07%. During the same quarter last year, the business earned $0.34 earnings per share. Equities analysts expect that NortonLifeLock Inc. will post 1.65 earnings per share for the current fiscal year.

In other news, CFO Natalie Marie Derse sold 966 shares of the firm’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $28.94, for a total value of $27,956.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.20% of the company’s stock.

About NortonLifeLock (Get Rating)

NortonLifeLock Inc provides cyber safety solutions for consumers worldwide. The company 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 LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.

Further Reading

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Institutional Ownership by Quarter for NortonLifeLock (NASDAQ:NLOK)

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