Canada Pension Plan Investment Board cut its stake in shares of Symantec Co. (NASDAQ:SYMC) by 18.0% during the first quarter, Holdings Channel reports. The firm owned 563,759 shares of the technology company’s stock after selling 123,600 shares during the period. Canada Pension Plan Investment Board owned about 0.09% of Symantec worth $17,296,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Jackson Square Partners LLC purchased a new stake in Symantec during the third quarter valued at approximately $565,123,000. Lone Pine Capital LLC purchased a new stake in Symantec during the fourth quarter valued at approximately $317,066,000. Capital World Investors purchased a new stake in Symantec during the third quarter valued at approximately $241,211,000. Dodge & Cox purchased a new stake in Symantec during the fourth quarter valued at approximately $180,155,000. Finally, Norges Bank purchased a new stake in Symantec during the fourth quarter valued at approximately $134,284,000. 93.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Symantec Co. (NASDAQ:SYMC) traded up 0.25% on Friday, reaching $32.30. The company’s stock had a trading volume of 4,320,769 shares. The company has a market cap of $19.99 billion, a price-to-earnings ratio of 9.73 and a beta of 1.17. The stock has a 50-day moving average of $30.83 and a 200 day moving average of $27.35. Symantec Co. has a 52-week low of $16.25 and a 52-week high of $32.55.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, February 1st. The technology company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. Symantec had a return on equity of 12.69% and a net margin of 55.12%. The company earned $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. Symantec’s revenue was up 19.7% compared to the same quarter last year. On average, equities research analysts forecast that Symantec Co. will post $1.19 earnings per share for the current year.
Several equities research analysts have recently commented on the company. Barclays PLC set a $32.00 price objective on Symantec and gave the company a “hold” rating in a report on Monday, April 10th. Wells Fargo & Co restated a “market perform” rating on shares of Symantec in a report on Friday, April 7th. OTR Global upgraded Symantec to a “positive” rating in a report on Friday, April 21st. Zacks Investment Research upgraded Symantec from a “sell” rating to a “hold” rating in a report on Wednesday, April 5th. Finally, Morgan Stanley boosted their price objective on Symantec from $33.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Symantec presently has an average rating of “Hold” and an average price target of $28.74.
In related news, Director Anita M. Sands sold 2,000 shares of Symantec stock in a transaction on Monday, April 17th. The stock was sold at an average price of $30.22, for a total value of $60,440.00. Following the completion of the sale, the director now owns 37,231 shares of the company’s stock, valued at $1,125,120.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael David Fey sold 13,215 shares of Symantec stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $28.55, for a total value of $377,288.25. Following the completion of the sale, the insider now directly owns 288,954 shares of the company’s stock, valued at approximately $8,249,636.70. The disclosure for this sale can be found here. Insiders sold 69,517 shares of company stock valued at $2,020,553 in the last ninety days. 0.76% of the stock is currently owned by corporate insiders.
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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