Gen Digital (NASDAQ:GEN) Insider Travis Michael Witteveen Sells 30,000 Shares of Stock

Gen Digital Inc. (NASDAQ:GEN) insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the transaction, the insider owned 496,545 shares in the company, valued at approximately $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Gen Digital Stock Performance

NASDAQ GEN opened at $28.64 on Thursday. The company has a market cap of $17.14 billion, a P/E ratio of 16.65 and a beta of 1.21. The company has a fifty day simple moving average of $26.07 and a 200 day simple moving average of $23.39. The company has a current ratio of 0.47, a quick ratio of 0.40 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $32.22.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. 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. Sell-side analysts predict that Gen Digital Inc. will post 2.61 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 17th. Gen Digital’s dividend payout ratio is currently 29.07%.

Analysts Set New Price Targets

GEN has been the subject of a number of analyst reports. Weiss Ratings upgraded Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their price objective on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Argus upgraded Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Barclays lifted their target price on Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Gen Digital presently has a consensus rating of “Hold” and a consensus target price of $31.67.

Institutional Investors Weigh In On Gen Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in GEN. Goldman Sachs Group Inc. grew its holdings in shares of Gen Digital by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock valued at $71,757,000 after acquiring an additional 28,522 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Gen Digital in the first quarter worth $205,000. Woodline Partners LP boosted its position in Gen Digital by 37.8% in the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock worth $732,000 after purchasing an additional 7,562 shares during the last quarter. Focus Partners Wealth grew its stake in Gen Digital by 9.7% in the 1st quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock valued at $593,000 after purchasing an additional 1,980 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Gen Digital by 221.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after purchasing an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Gen Digital Company Profile

Gen Digital (NASDAQ: GEN) is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.