Traders Buy Large Volume of Put Options on NortonLifeLock (NASDAQ:NLOK)

NortonLifeLock Inc. (NASDAQ:NLOKGet Rating) saw unusually large options trading activity on Friday. Traders purchased 35,193 put options on the company. This represents an increase of approximately 627% compared to the average daily volume of 4,839 put options.

Insider Transactions at NortonLifeLock

In related news, Director Peter A. Feld bought 500,000 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was bought at an average price of $22.03 per share, for a total transaction of $11,015,000.00. Following the purchase, the director now owns 2,024,896 shares in the company, valued at approximately $44,608,458.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Peter A. Feld bought 500,000 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was bought at an average price of $22.03 per share, for a total transaction of $11,015,000.00. Following the purchase, the director now owns 2,024,896 shares in the company, valued at approximately $44,608,458.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter A. Feld acquired 1,400,000 shares of the company’s stock in a transaction on Monday, June 13th. The stock was acquired at an average price 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 $205,491,772.44. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NortonLifeLock

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Steward Financial Group LLC bought a new stake in shares of NortonLifeLock during the 1st quarter valued at approximately $31,000. Elequin Capital LP bought a new stake in shares of NortonLifeLock during the 1st quarter valued at approximately $38,000. UMB Bank N A MO bought a new stake in shares of NortonLifeLock during the 4th quarter valued at approximately $45,000. Allworth Financial LP grew its holdings in shares of NortonLifeLock by 28.8% during the 1st quarter. Allworth Financial LP now owns 1,944 shares of the company’s stock valued at $52,000 after purchasing an additional 435 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new stake in shares of NortonLifeLock during the 2nd quarter valued at approximately $49,000. 94.86% of the stock is owned by institutional investors.

NortonLifeLock Stock Down 2.8 %

NLOK stock opened at $22.73 on Friday. NortonLifeLock has a 12 month low of $21.55 and a 12 month high of $30.92. The firm has a market cap of $12.99 billion, a P/E ratio of 15.90 and a beta of 0.71. The company’s 50-day moving average price is $23.72 and its two-hundred day moving average price is $24.90.

NortonLifeLock (NASDAQ:NLOKGet Rating) last released its earnings results on Thursday, August 4th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. NortonLifeLock had a net margin of 30.35% and a negative return on equity of 565.66%. The firm had revenue of $708.00 million for the quarter, compared to analyst estimates of $711.32 million. Equities analysts predict that NortonLifeLock will post 1.69 EPS for the current year.

NortonLifeLock Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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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