Over the last few days, Peter Feld, the Director of cybersecurity firm NortonLifeLock Inc. (NASDAQ: NLOK), has made an informative buy of $55.55 million worth of the company’s shares. Between June 13 and June 15, Feld bought 2.5 million shares of NortonLifeLock for over $22 per share.
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The stock has witnessed a lot of insider trading activity over the last 15 days. The same can be seen on TipRanks’ Insider Trading Activity tool.
The tool also shows that Insider Confidence Signal is currently Very Negative for NortonLifeLock.
About NortonLifeLock
Based out of Arizona, NortonLifeLock provides systems management, storage and security solutions. It provides digital security to companies and consumers through its Enterprise Security and Consumer Digital Safety segments.
Wall Street’s take
Based on two Buys and two Holds, the stock has a Moderate Buy consensus rating. NLOK’s average price target of $27.50 implies 25% upside potential from current levels. Shares have lost 19.1% over the past year.
Conclusion
Feld’s move, especially when other insiders are on a selling spree, can be viewed as opportunistic, as the stock is currently trading near its 52-week low of $21.72.
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