Symantec Corporation (NASDAQ:SYMC) EVP Francis C. Rosch sold 57,103 shares of Symantec stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the completion of the transaction, the executive vice president now owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Symantec Corporation (SYMC) traded down $0.08 during trading on Thursday, hitting $27.36. 4,403,400 shares of the stock were exchanged, compared to its average volume of 6,742,500. Symantec Corporation has a 12 month low of $23.77 and a 12 month high of $34.20. The stock has a market cap of $17,012.31, a PE ratio of 43.56, a price-to-earnings-growth ratio of 2.77 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.14. Symantec had a negative net margin of 5.29% and a positive return on equity of 12.33%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the business posted $0.30 EPS. The firm’s revenue was up 25.7% compared to the same quarter last year. analysts predict that Symantec Corporation will post 1.05 earnings per share for the current year.
A number of research firms have recently issued reports on SYMC. Robert W. Baird reiterated a “hold” rating and issued a $32.00 target price on shares of Symantec in a research note on Friday, September 8th. BidaskClub upgraded shares of Symantec from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Morgan Stanley cut their target price on shares of Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 3rd. Evercore ISI reiterated a “hold” rating and issued a $25.00 target price on shares of Symantec in a research note on Thursday, November 2nd. Finally, Zacks Investment Research cut shares of Symantec from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. Symantec currently has a consensus rating of “Hold” and an average price target of $32.39.
A number of hedge funds have recently made changes to their positions in SYMC. Capital Research Global Investors lifted its stake in shares of Symantec by 1,784.9% in the 2nd quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock worth $404,140,000 after purchasing an additional 13,546,895 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Symantec by 10,624.9% in the 2nd quarter. Janus Henderson Group PLC now owns 9,578,167 shares of the technology company’s stock worth $270,583,000 after purchasing an additional 9,488,859 shares during the period. Kensico Capital Management Corp bought a new position in shares of Symantec in the 3rd quarter worth approximately $225,241,000. CI Global Investments Inc. bought a new stake in Symantec during the 2nd quarter worth approximately $186,563,000. Finally, Renaissance Technologies LLC raised its position in shares of Symantec by 405.7% during the second quarter. Renaissance Technologies LLC now owns 4,857,838 shares of the technology company’s stock valued at $137,234,000 after buying an additional 3,897,200 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors.
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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