ExodusPoint Capital Management LP Acquires 581,140 Shares of Gen Digital Inc. $GEN

ExodusPoint Capital Management LP grew its holdings in shares of Gen Digital Inc. (NASDAQ:GEN) by 245.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 818,301 shares of the company’s stock after acquiring an additional 581,140 shares during the period. ExodusPoint Capital Management LP’s holdings in Gen Digital were worth $22,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of GEN. Goldman Sachs Group Inc. grew its position in shares of Gen Digital by 1.1% during the 1st 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 during the period. Great Lakes Advisors LLC purchased a new position in shares of Gen Digital during the 1st quarter valued at $205,000. Woodline Partners LP lifted its stake in shares of Gen Digital by 37.8% during the 1st quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock valued at $732,000 after buying an additional 7,562 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Gen Digital by 9.7% during the 1st quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock valued at $593,000 after buying an additional 1,980 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake 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 buying an additional 1,183 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

GEN has been the topic of a number of analyst reports. Jefferies Financial Group cut shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada lifted their target price on shares of Gen Digital from $22.00 to $24.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Barclays lifted their target price on shares of Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.29.

Insider Buying and Selling at Gen Digital

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total value of $2,478,000.00. Following the sale, the director owned 3,832,724 shares in the company, valued at $94,974,900.72. The trade was a 2.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Chrystal purchased 3,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was bought at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the purchase, the director owned 31,419 shares in the company, valued at approximately $850,198.14. This represents a 10.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 9.30% of the stock is owned by insiders.

Gen Digital Stock Up 0.7%

Shares of GEN stock opened at $24.57 on Wednesday. The stock has a market cap of $14.80 billion, a P/E ratio of 15.55 and a beta of 1.21. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. The company’s fifty day simple moving average is $22.35 and its two-hundred day simple moving average is $23.56.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 EPS. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. Analysts predict that Gen Digital Inc. will post 2.59 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th were paid a $0.125 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.50 annualized dividend and a yield of 2.0%. Gen Digital’s payout ratio is presently 31.65%.

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.