Symantec Co. (NASDAQ:SYMC) insider Gregory S. Clark sold 61,170 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $24.00, for a total transaction of $1,468,080.00. Following the completion of the transaction, the insider now directly owns 1,565,007 shares of the company’s stock, valued at approximately $37,560,168. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of SYMC traded up $0.45 during midday trading on Monday, reaching $24.41. The stock had a trading volume of 4,020,202 shares, compared to its average volume of 5,274,518. Symantec Co. has a 1-year low of $17.42 and a 1-year high of $29.20. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.08 and a beta of 1.08. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.75.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings data on Thursday, January 31st. The technology company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. Symantec had a negative net margin of 0.86% and a positive return on equity of 13.24%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business earned $0.49 EPS. On average, analysts predict that Symantec Co. will post 1.16 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. B. Riley Financial Inc. purchased a new stake in shares of Symantec in the third quarter valued at about $213,000. PNC Financial Services Group Inc. increased its position in Symantec by 59.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 152,865 shares of the technology company’s stock worth $2,889,000 after purchasing an additional 57,015 shares during the last quarter. Mackenzie Financial Corp increased its position in Symantec by 111.2% during the third quarter. Mackenzie Financial Corp now owns 48,512 shares of the technology company’s stock worth $1,032,000 after purchasing an additional 25,541 shares during the last quarter. Matrix Asset Advisors Inc. NY increased its position in Symantec by 10.1% during the fourth quarter. Matrix Asset Advisors Inc. NY now owns 229,857 shares of the technology company’s stock worth $4,343,000 after purchasing an additional 21,003 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its position in Symantec by 10.8% during the fourth quarter. IFM Investors Pty Ltd now owns 36,229 shares of the technology company’s stock worth $685,000 after purchasing an additional 3,523 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.
Several equities analysts have commented on the stock. Goldman Sachs Group raised shares of Symantec from a “neutral” rating to a “buy” rating and raised their price target for the company from $23.00 to $28.00 in a research report on Monday, April 8th. Zacks Investment Research cut shares of Symantec from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Mizuho assumed coverage on shares of Symantec in a research report on Tuesday, March 26th. They issued a “neutral” rating and a $25.00 price target for the company. Evercore ISI reissued a “hold” rating and issued a $22.00 price target on shares of Symantec in a research report on Monday, February 4th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $23.00 price target on shares of Symantec in a research report on Friday, February 1st. Two research analysts have rated the stock with a sell rating, twenty have given a hold rating and three have given a buy rating to the company’s stock. Symantec currently has an average rating of “Hold” and a consensus price target of $22.94.
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Symantec Company Profile
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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