Alta Park Capital Lp buys $4,988,102 stake in Symantec Corporation (SYMC)

Symantec Corporation (SYMC) : Alta Park Capital Lp scooped up 96,300 additional shares in Symantec Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 221,300 shares of Symantec Corporation which is valued at $4,988,102.Symantec Corporation makes up approximately 6.97% of Alta Park Capital Lp’s portfolio.

Other Hedge Funds, Including , Paradigm Asset Management Co reduced its stake in SYMC by selling 7,511 shares or 37.53% in the most recent quarter. The Hedge Fund company now holds 12,500 shares of SYMC which is valued at $281,750. Symantec Corporation makes up approx 0.05% of Paradigm Asset Management Co’s portfolio.Blackrock Investment Management reduced its stake in SYMC by selling 83,257 shares or 5.86% in the most recent quarter. The Hedge Fund company now holds 1,336,638 shares of SYMC which is valued at $30,127,821. Symantec Corporation makes up approx 0.04% of Blackrock Investment Management’s portfolio.Oak Associates Ltd Oh boosted its stake in SYMC in the latest quarter, The investment management firm added 461 additional shares and now holds a total of 644,495 shares of Symantec Corporation which is valued at $14,249,784. Symantec Corporation makes up approx 1.61% of Oak Associates Ltd Oh’s portfolio.Norinchukin Bank The reduced its stake in SYMC by selling 1,358 shares or 4.06% in the most recent quarter. The Hedge Fund company now holds 32,115 shares of SYMC which is valued at $710,063. Symantec Corporation makes up approx 0.02% of Norinchukin Bank The’s portfolio.Calvert Investment Management reduced its stake in SYMC by selling 2,670 shares or 7.11% in the most recent quarter. The Hedge Fund company now holds 34,881 shares of SYMC which is valued at $763,371. Symantec Corporation makes up approx 0.04% of Calvert Investment Management’s portfolio.

Symantec Corporation opened for trading at $24 and hit $24.22 on the upside on Monday, eventually ending the session at $24.13, with a gain of 1.73% or 0.41 points. The heightened volatility saw the trading volume jump to 84,69,239 shares. Company has a market cap of $14,854 M.

On the company’s financial health, Symantec Corporation reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $884.00 million for the quarter, compared to analysts expectations of $877.37 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Symantec Corporation. Symantec Corporation was Upgraded by Citigroup to ” Buy” on Aug 19, 2016. Goldman Resumed Symantec Corporation on Aug 15, 2016 to “Buy”, Price Target of the shares are set at $26.Company shares were Reiterated by Wunderlich on Aug 5, 2016 to “Hold”, Firm has raised the Price Target to $ 23 from a previous price target of $19 .

Symantec Corporation provides security backup and availability solutions. The Company operates in three segments: Consumer Security Enterprise Security and Information Management. The Company’s products and services offer protection of information in any environment from the mobile device to the enterprise data center to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions application bug fixes and patches for its consumer product. The Company’s enterprise security support program offers annual maintenance support contracts including content upgrades and technical support. The Company’s Consumer Security segment offers Norton-branded services which provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals families and small businesses.

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