Gen Digital (NASDAQ:GEN) Share Price Breaks Below 200 Day Moving Average – Here’s What Happened

Gen Digital Inc. (NASDAQ:GEN) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $24.38 and traded as low as $23.96. Gen Digital shares last traded at $24.25, with a volume of 5,379,666 shares trading hands.

Analyst Ratings Changes

GEN has been the topic of several recent analyst reports. Barclays boosted their target price on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Wells Fargo & Company increased their price target on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Royal Bank Of Canada decreased their price target on Gen Digital from $26.00 to $24.00 and set a “sector perform” rating for the company in a research note on Monday, October 12th. Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.25.

Gen Digital Price Performance

The stock’s fifty day simple moving average is $26.54 and its two-hundred day simple moving average is $24.38.

Gen Digital (NASDAQ:GEN) last released its earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. Equities research analysts anticipate that Gen Digital Inc. will post 2.66 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th were given a $0.1250 dividend. The ex-dividend date was Monday, August 17th. This represents a $0.50 annualized dividend and a yield of 2.1%.

Insider Buying and Selling at Gen Digital

In other news, COO Bryan Seuk Ko sold 28,248 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $30.67, for a total transaction of $866,366.16. Following the completion of the sale, the chief operating officer directly owned 744,262 shares of the company’s stock, valued at $22,826,515.54. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ondrej Vlcek sold 200,000 shares of Gen Digital stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total value of $6,000,000.00. Following the completion of the transaction, the director owned 3,332,904 shares in the company, valued at $99,987,120. The trade was a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 558,508 shares of company stock valued at $16,356,093. Corporate insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Gen Digital

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BOKF NA purchased a new stake in shares of Gen Digital during the third quarter valued at $860,000. Valley National Advisers Inc. increased its stake in Gen Digital by 154,977.6% in the 3rd quarter. Valley National Advisers Inc. now owns 75,988 shares of the company’s stock worth $1,673,000 after purchasing an additional 75,939 shares in the last quarter. Kendall Capital Management increased its stake in Gen Digital by 5.2% in the 3rd quarter. Kendall Capital Management now owns 207,970 shares of the company’s stock worth $4,579,000 after purchasing an additional 10,345 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Gen Digital during the 3rd quarter worth about $59,000. Finally, Vest Financial LLC raised its holdings in Gen Digital by 3.1% during the 3rd quarter. Vest Financial LLC now owns 91,532 shares of the company’s stock worth $2,016,000 after buying an additional 2,783 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Company Profile

Gen Digital Inc (NASDAQ: GEN) is a cybersecurity company that provides digital safety, privacy, and identity protection products for consumers. Its services are designed to help protect devices, personal information, online accounts, and digital identities from malware, fraud, identity theft, scams, and other cyber threats.

The company operates a portfolio of consumer brands that includes Norton, Avast, LifeLock, Avira, AVG, ReputationDefender, and CCleaner. Its offerings include antivirus and device security software, virtual private network services, password management, identity theft monitoring and restoration support, privacy tools, scam protection, and performance and optimization utilities.

Gen Digital serves customers internationally through direct subscriptions and distribution partnerships.