Prudential PLC Increases Stock Position in NortonLifeLock Inc. (NASDAQ:NLOK)

Prudential PLC lifted its holdings in shares of NortonLifeLock Inc. (NASDAQ:NLOKGet Rating) by 273.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,782 shares of the company’s stock after acquiring an additional 62,836 shares during the period. Prudential PLC’s holdings in NortonLifeLock were worth $2,275,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Allianz Asset Management GmbH grew its position in NortonLifeLock by 63.4% in the 1st quarter. Allianz Asset Management GmbH now owns 11,524,849 shares of the company’s stock valued at $305,640,000 after buying an additional 4,473,395 shares during the last quarter. Canada Pension Plan Investment Board grew its position in NortonLifeLock by 33.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 25,974 shares of the company’s stock valued at $688,000 after buying an additional 6,555 shares during the last quarter. Aviva PLC grew its position in NortonLifeLock by 35.0% in the 1st quarter. Aviva PLC now owns 259,829 shares of the company’s stock valued at $6,891,000 after buying an additional 67,404 shares during the last quarter. Sei Investments Co. grew its position in NortonLifeLock by 194.5% in the 1st quarter. Sei Investments Co. now owns 733,057 shares of the company’s stock valued at $19,482,000 after buying an additional 484,170 shares during the last quarter. Finally, Blair William & Co. IL grew its position in NortonLifeLock by 15.4% in the 1st quarter. Blair William & Co. IL now owns 12,958 shares of the company’s stock valued at $344,000 after buying an additional 1,727 shares during the last quarter. 94.86% of the stock is currently owned by hedge funds and other institutional investors.

NortonLifeLock Stock Up 2.3 %

NASDAQ:NLOK opened at $23.39 on Friday. The company has a market capitalization of $13.36 billion, a PE ratio of 16.36 and a beta of 0.71. NortonLifeLock Inc. has a 52-week low of $21.55 and a 52-week high of $30.92. The stock has a fifty day simple moving average of $23.71 and a 200-day simple moving average of $24.94.

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

NortonLifeLock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Monday, August 22nd will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, August 19th. NortonLifeLock’s payout ratio is 34.97%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NLOK. Barclays lowered their price objective on shares of NortonLifeLock to $28.00 in a research report on Tuesday, August 9th. TheStreet lowered shares of NortonLifeLock from a “b-” rating to a “c+” rating in a research report on Tuesday, July 5th. Finally, StockNews.com lowered 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.40.

Insider Activity at NortonLifeLock

In other news, Director Peter A. Feld bought 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was purchased at an average price of $22.03 per share, with a total value of $11,015,000.00. Following the purchase, the director now owns 2,024,896 shares of the company’s stock, valued at approximately $44,608,458.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Peter A. Feld bought 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was purchased at an average price of $22.03 per share, with a total value of $11,015,000.00. Following the purchase, the director now owns 2,024,896 shares of the company’s stock, valued at approximately $44,608,458.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter A. Feld bought 1,400,000 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was purchased at an average cost of $22.38 per share, with a total value of $31,332,000.00. Following the purchase, the director now directly owns 9,181,938 shares in the company, valued at approximately $205,491,772.44. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by corporate insiders.

NortonLifeLock Profile

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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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