NortonLifeLock Inc. (NLOK) – Don’t Be So Quick to Call it Dead

NortonLifeLock Inc. (NASDAQ: NLOK) is 33.88% higher on its value in year-to-date trading and has touched a low of $11.56 and a high of $23.02 in the current 52-week trading range. The NLOK stock was last observed hovering at around $20.48 in the last trading session, with the day’s loss setting it -0.74% off its average median price target of $22.00 for the next 12 months. It is also 24.08% off the consensus price target high of $26.00 offered by 18 analysts, but current levels are -23.37% lower than the price target low of $16.00 for the same period.

Currently trading at $19.74, the stock is -5.19% and -4.51% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.89 million and changing -3.61% at the moment leaves the stock 15.79% off its SMA200. NLOK registered 64.26% gain for a year compared to 6-month gain of 32.79%. The firm has a 50-day simple moving average (SMA 50) of $20.78 and a 200-day simple moving average (SMA200) of $21.61.

The stock witnessed a -0.65% loss in the last 1 month and extending the period to 3 months gives it a 10.34%, and is -2.37% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.44% over the week and 4.51% over the month.

NortonLifeLock Inc. (NLOK) has around 3600 employees, a market worth around $11.21B and $2.49B in sales. Current P/E ratio is 22.03 and Fwd P/E is 13.50. Distance from 52-week low is 70.75% and -14.25% from its 52-week high. The company has generated returns on investments over the last 12 months (8.20%).

NortonLifeLock Inc. (NLOK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for NortonLifeLock Inc. (NLOK) is a “Hold”. 18 analysts offering their recommendations for the stock have an average rating of 2.70, where 11 rate it as a Hold and 1 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

NortonLifeLock Inc. is expected to release its quarterly report on 07/30/2020 and quarterly earnings per share for the current quarter are estimated at $0.22 with sales reaching $599.72M over the same period.The EPS is expected to grow by 607.20% this year, but quarterly earnings will post -1.80% year-over-year. Quarterly sales are estimated to shrink -52.10% in year-over-year returns.

NortonLifeLock Inc. (NLOK) Top Institutional Holders

783 institutions hold shares in NortonLifeLock Inc. (NLOK), with 6M shares held by insiders accounting for 1.02% while institutional investors hold 98.46% of the company’s shares. The shares outstanding are 600.00M, and float is at 582.94M with Short Float at 4.55%. Institutions hold 97.46% of the Float.

The top institutional shareholder in the company is Capital World Investors with over 72.99 million shares valued at $1.37 billion. The investor’s holdings represent 12.39% of the NLOK Shares outstanding. As of Mar 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 65.72 million shares valued at $1.23 billion to account for 11.16% of the shares outstanding. The other top investors are Blackrock Inc. which holds 45.17 million shares representing 7.67% and valued at over $845.14 million, while Starboard Value LP holds 4.53% of the shares totaling 26.67 million with a market value of $498.96 million.

NortonLifeLock Inc. (NLOK) Insider Activity

A total of 33 insider transactions have happened at NortonLifeLock Inc. (NLOK) in the last six months, with sales accounting for 14 and purchases happening 19 times. The most recent transaction is an insider sale by Feld Peter A, the company’s Director. SEC filings show that Feld Peter A sold 10,900,195 shares of the company’s common stock on Jun 08 at a price of $20.97 per share for a total of $228.58 million. Following the sale, the insider now owns 0.3 million shares.

NortonLifeLock Inc. disclosed in a document filed with the SEC on Jun 03 that Kapuria Samir (President) sold a total of 67,926 shares of the company’s common stock. The trade occurred on Jun 03 and was made at $20.84 per share for $1.42 million. Following the transaction, the insider now directly holds 0.26 million shares of the NLOK stock.

Still, SEC filings show that on May 20, Kapuria Samir (President) disposed off 45,162 shares at an average price of $20.61 for $0.93 million. The insider now directly holds 291,481 shares of NortonLifeLock Inc. (NLOK).