Gen Digital Inc. $GEN Shares Newly Acquired by Vise Technologies Inc.

Vise Technologies Inc. acquired a new stake in Gen Digital Inc. (NASDAQ:GEN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 22,698 shares of the company’s stock, valued at approximately $500,000.

A number of other institutional investors have also recently added to or reduced their stakes in GEN. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Gen Digital by 45.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock worth $246,567,000 after purchasing an additional 4,115,676 shares during the period. Legal & General Group Plc acquired a new stake in shares of Gen Digital in the second quarter valued at about $225,169,000. Deutsche Bank AG acquired a new position in shares of Gen Digital in the second quarter worth approximately $146,639,000. Bank of New York Mellon Corp bought a new stake in Gen Digital in the second quarter valued at approximately $108,421,000. Finally, Sei Investments Co. boosted its holdings in Gen Digital by 28.6% in the first quarter. Sei Investments Co. now owns 2,559,493 shares of the company’s stock valued at $48,195,000 after acquiring an additional 569,581 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ondrej Vlcek sold 200,000 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 3,332,904 shares in the company, valued at approximately $99,987,120. The trade was a 5.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Bryan Seuk Ko sold 28,248 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $30.67, for a total transaction of $866,366.16. Following the transaction, the chief operating officer owned 744,262 shares of the company’s stock, valued at $22,826,515.54. This represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 558,508 shares of company stock valued at $16,365,993 over the last ninety days. 9.70% of the stock is currently owned by insiders.

Gen Digital Price Performance

Shares of NASDAQ GEN opened at $29.69 on Friday. Gen Digital Inc. has a twelve month low of $17.78 and a twelve month high of $31.65. The stock’s 50 day moving average price is $26.52 and its 200-day moving average price is $24.59. The company has a market capitalization of $17.61 billion, a PE ratio of 14.92, a PEG ratio of 0.96 and a beta of 1.24. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.57.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Gen Digital had a return on equity of 56.80% and a net margin of 23.07%. Gen Digital’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. On average, equities analysts anticipate that Gen Digital Inc. will post 2.65 EPS for the current year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Monday, November 16th will be given a $0.1250 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, November 16th. Gen Digital’s dividend payout ratio (DPR) is currently 25.13%.

Wall Street Analysts Forecast Growth

GEN has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Argus lifted their price objective on Gen Digital from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank Of Canada upped their target price on Gen Digital from $24.00 to $27.00 and gave the company a “sector perform” rating in a research report on Thursday, October 29th. Weiss Ratings raised Gen Digital from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, November 4th. Finally, Wells Fargo & Company boosted their target price on shares of Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $31.20.

About Gen Digital

Gen Digital Inc. is a global cybersecurity company that provides digital safety and identity protection services to consumers and small businesses. Its products include antivirus and malware protection, virtual private networks, password managers, scam protection, and identity monitoring and recovery services. The company offers services through brands including Norton, Avast, LifeLock, Avira, AVG, and CCleaner. Its products are available in markets around the world through direct subscriptions and other distribution channels.