Gen Digital (NASDAQ:GEN) Director Sells $2,800,000.00 in Stock

Gen Digital Inc. (NASDAQ:GEN) Director Ondrej Vlcek sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $28.00, for a total value of $2,800,000.00. Following the completion of the sale, the director owned 3,732,724 shares of the company’s stock, valued at $104,516,272. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ondrej Vlcek also recently made the following trade(s):

• On Wednesday, June 10th, Ondrej Vlcek sold 100,000 shares of Gen Digital stock. The shares were sold at an average price of $24.78, for a total value of $2,478,000.00.

Gen Digital Stock Performance

Gen Digital stock traded up $0.76 during midday trading on Friday, hitting $28.93. The stock had a trading volume of 7,070,499 shares, compared to its average volume of 6,617,383. The firm’s fifty day moving average is $26.40 and its two-hundred day moving average is $23.53. The company has a market capitalization of $17.32 billion, a PE ratio of 16.82 and a beta of 1.21. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.88. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00.

Gen Digital (NASDAQ:GEN) last released its earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. Gen Digital’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. 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. On average, research analysts forecast that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be given a dividend of $0.125 per share. 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%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEN. Barclays lifted their price target on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Wells Fargo & Company lifted their target price on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Royal Bank Of Canada increased their price target on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Finally, Argus upgraded Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.67.

Hedge Funds Weigh In On Gen Digital

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of Gen Digital in the fourth quarter worth about $27,000. Grove Bank & Trust boosted its position in Gen Digital by 452.2% in the 2nd quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock valued at $28,000 after buying an additional 927 shares during the period. Trust Co. of Vermont purchased a new stake in Gen Digital in the 2nd quarter valued at about $32,000. Weiss Asset Management LP bought a new position in Gen Digital in the 1st quarter worth about $41,000. Finally, TD Private Client Wealth LLC grew its stake in Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after acquiring an additional 611 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

About Gen Digital

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.