Price Action Don’t Lie: Symantec Corporation Declines Again; Strong Momentum for Sellers

Price Action Don't Lie: Symantec Corporation Declines Again; Strong Momentum for Sellers

The stock of Symantec Corporation (NASDAQ:SYMC) is a huge mover today! The stock decreased 7.70% or $1.96 during the last trading session, hitting $23.49. About 21.83M shares traded hands or 187.99% up from the average. Symantec Corporation (NASDAQ:SYMC) has risen 36.83% since April 4, 2016 and is uptrending. It has outperformed by 35.74% the S&P500.
The move comes after 7 months negative chart setup for the $14.62 billion company. It was reported on Nov, 4 by Barchart.com. We have $22.08 PT which if reached, will make NASDAQ:SYMC worth $877.20M less.

Symantec Corporation (NASDAQ:SYMC) Ratings Coverage

Out of 19 analysts covering Symantec (NASDAQ:SYMC), 9 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 47% are positive. Symantec has been the topic of 40 analyst reports since August 11, 2015 according to StockzIntelligence Inc. On Monday, June 20 the stock rating was upgraded by UBS to “Buy”. The company was maintained on Wednesday, August 12 by S&P Research. Zacks upgraded the stock to “Sell” rating in Monday, August 17 report. M Partners maintained the stock with “Neutral” rating in Wednesday, November 2 report. The stock has “Equal-Weight” rating given by Barclays Capital on Monday, September 19. On Thursday, April 14 the stock rating was initiated by Evercore with “Sell”. The rating was upgraded by RBC Capital Markets on Friday, March 11 to “Outperform”. The firm has “Hold” rating given on Thursday, April 28 by Wunderlich. The company was maintained on Friday, August 5 by Wunderlich. As per Wednesday, March 2, the company rating was maintained by Barclays Capital.

According to Zacks Investment Research, “Symantec, a world leader in Internet security technology, provides a broad range of content security solutions to individuals and companies. The company is a leading provider of anti-virus protection, Internet content and e-mail filtering, and mobile code detection technologies to enterprise customers.”

Insitutional Activity: The institutional sentiment decreased to 0.8 in Q2 2016. Its down 0.06, from 0.86 in 2016Q1. The ratio is negative, as 62 funds sold all Symantec Corporation shares owned while 194 reduced positions. 62 funds bought stakes while 144 increased positions. They now own 560.92 million shares or 1.60% less from 570.06 million shares in 2016Q1.
Moore Limited Partnership has 300,000 shares for 0.24% of their US portfolio. Wfg L P holds 0% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 147 shares. Stephens Ar holds 0.02% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 16,788 shares. Tokio Marine Asset Ltd, a Japan-based fund reported 22,870 shares. Rhumbline Advisers holds 939,180 shares or 0.06% of its portfolio. Martin & Inc Tn has invested 1.37% of its portfolio in Symantec Corporation (NASDAQ:SYMC). Pnc Fincl Ser Group Inc last reported 0.01% of its portfolio in the stock. Balyasny Asset Ltd Com has invested 0% of its portfolio in Symantec Corporation (NASDAQ:SYMC). Advantus Capital Mngmt Inc last reported 0.03% of its portfolio in the stock. Dekabank Deutsche Girozentrale accumulated 51,570 shares or 0.01% of the stock. Global X Mgmt Ltd Liability Corporation holds 6,211 shares or 0.01% of its portfolio. Cibc World holds 0% or 15,758 shares in its portfolio. South Dakota Invest Council has 0.01% invested in the company for 22,300 shares. The Michigan-based Exchange Cap Management has invested 0% in Symantec Corporation (NASDAQ:SYMC). Gam Holding Ag has invested 0.1% of its portfolio in Symantec Corporation (NASDAQ:SYMC).

Insider Transactions: Since June 14, 2016, the stock had 0 insider purchases, and 8 sales for $2.49 million net activity. On Wednesday, June 15 the insider Vautrinot Suzanne M sold $71,250. Another trade for 15,474 shares valued at $385,026 was sold by Cappellanti-Wolf Amy L.. Fey Michael David also sold $332,033 worth of Symantec Corporation (NASDAQ:SYMC) shares. Shares for $1.00 million were sold by TAYLOR SCOTT C. 3,336 shares with value of $83,000 were sold by Rosch Francis C on Wednesday, September 7. The insider Garfield Mark S. sold 11,852 shares worth $222,344.

More important recent Symantec Corporation (NASDAQ:SYMC) news were published by: Profitconfidential.com which released: “Symantec Corporation: The SYMC Stock Chart Can’t Be Ignored” on October 18, 2016, also Businesswire.com published article titled: “Symantec Reports Second Quarter Fiscal Year 2017 Results”, Profitconfidential.com published: “Symantec Corporation: SYMC Stock can Surge to $42.00 & Beyond” on October 06, 2016. More interesting news about Symantec Corporation (NASDAQ:SYMC) was released by: Benzinga.com and their article: “Worst Performing Industries For November 4, 2016” with publication date: November 04, 2016.

SYMC Company Profile

Symantec Corporation, incorporated on April 19, 1988, provides security and information management solutions. The Firm operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. The Firm is developing solutions for cloud, threat protection, information protection and cyber security services. The Firm operates through two divisions: Consumer Security and Enterprise Security. The Company’s services include business critical services, consulting services, customer success services, cyber security services and education services.

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