NortonLifeLock (NASDAQ:NLOK) Shares Down 1.9% – Should You Sell?

Shares of NortonLifeLock Inc (NASDAQ:NLOK) fell 1.9% on Tuesday. The stock traded as low as $24.17 and last traded at $24.41. Approximately 5,546,444 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 5,778,808 shares. The stock had previously closed at $24.88.

NortonLifeLock Stock Performance

The stock has a market cap of $13.91 billion, a price-to-earnings ratio of 17.03 and a beta of 0.76. The company’s 50 day simple moving average is $26.54 and its 200 day simple moving average is $24.40.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in NortonLifeLock stock. Citizens Financial Group Inc. RI bought a new position in shares of NortonLifeLock Inc (NASDAQ:NLOK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,764 shares of the company’s stock, valued at approximately $343,000. 94.86% of the stock is currently owned by institutional investors.

About NortonLifeLock

NortonLifeLock Inc was a cybersecurity company focused on helping consumers protect their devices, online identities and personal information. Its product portfolio included Norton antivirus and internet security software, LifeLock identity-theft protection and monitoring services, password-management tools, virtual private network services and related privacy and device-security solutions.

The company was created in 2019 when Broadcom acquired Symantec’s enterprise security business and renamed the remaining consumer-focused company NortonLifeLock.