LS Investment Advisors LLC reduced its stake in shares of Symantec Co. (NASDAQ:SYMC) by 3.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 32,646 shares of the technology company’s stock after selling 1,291 shares during the period. LS Investment Advisors LLC’s holdings in Symantec were worth $771,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. FinTrust Capital Advisors LLC boosted its stake in shares of Symantec by 995.1% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 1,347 shares of the technology company’s stock worth $29,000 after acquiring an additional 1,224 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in Symantec by 319.5% in the 3rd quarter. AdvisorNet Financial Inc now owns 1,678 shares of the technology company’s stock valued at $40,000 after buying an additional 1,278 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Symantec in the 2nd quarter valued at about $39,000. CSat Investment Advisory L.P. lifted its stake in Symantec by 126.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 2,123 shares of the technology company’s stock valued at $46,000 after buying an additional 1,185 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in Symantec in the 2nd quarter valued at about $57,000. 90.27% of the stock is currently owned by institutional investors.
In other news, EVP Samir Kapuria sold 9,674 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $23.58, for a total transaction of $228,112.92. Following the completion of the sale, the executive vice president now owns 367,818 shares in the company, valued at approximately $8,673,148.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 29,022 shares of company stock valued at $678,825 in the last 90 days. Insiders own 1.90% of the company’s stock.
Shares of NASDAQ SYMC opened at $24.92 on Friday. The company has a 50 day simple moving average of $23.51 and a 200-day simple moving average of $22.50. The company has a market capitalization of $15.40 billion, a P/E ratio of 21.30, a P/E/G ratio of 3.77 and a beta of 1.28. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.71 and a quick ratio of 0.71. Symantec Co. has a 1 year low of $17.42 and a 1 year high of $26.07.
A number of research analysts recently weighed in on SYMC shares. UBS 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 $27.00 in a research note on Tuesday, November 5th. Morgan Stanley upgraded shares of Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 price objective for the company in a report on Friday, August 9th. William Blair reiterated a “market perform” rating on shares of Symantec in a report on Friday, August 9th. BidaskClub downgraded shares of Symantec from a “sell” rating to a “strong sell” rating in a report on Saturday, October 26th. Finally, ValuEngine downgraded shares of Symantec from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.18.
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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