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

Gen Digital Inc. (NASDAQ:GEN) insider Travis Witteveen sold 30,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $29.75, for a total value of $892,500.00. Following the completion of the sale, the insider owned 466,545 shares in the company, valued at approximately $13,879,713.75. This trade represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Travis Michael Witteveen also recently made the following trade(s):

• On Monday, August 17th, Travis Witteveen sold 440 shares of Gen Digital stock. The stock was sold at an average price of $28.06, for a total value of $12,346.40.
• On Monday, August 10th, Travis Witteveen sold 30,000 shares of Gen Digital stock. The shares were sold at an average price of $29.42, for a total value of $882,600.00.

Gen Digital Trading Up 4.0%

NASDAQ GEN opened at $30.89 on Thursday. The stock has a market capitalization of $18.33 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.94 and a beta of 1.24. The stock’s 50 day moving average price is $26.57 and its two-hundred day moving average price is $24.45. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.37 and a current ratio of 0.37. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $31.65.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. Gen Digital had a return on equity of 56.80% and a net margin of 23.07%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. The business’s revenue was up 12.2% on a year-over-year basis. As a group, analysts anticipate that Gen Digital Inc. will post 2.65 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, December 9th. Investors of record on Monday, November 16th will be issued a dividend of $0.1250 per share. The ex-dividend date is Monday, November 16th. This represents a $0.50 annualized dividend and a yield of 1.6%. Gen Digital’s dividend payout ratio is presently 25.13%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Royal Bank Of Canada boosted their price target on shares of Gen Digital from $24.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 29th. Wells Fargo & Company increased their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Finally, Morgan Stanley lifted their target price on Gen Digital from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Gen Digital has a consensus rating of “Hold” and an average price target of $31.60.

Institutional Investors Weigh In On Gen Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Grove Bank & Trust boosted its position in Gen Digital by 452.2% during the second quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after purchasing an additional 927 shares during the period. Weiss Asset Management LP bought a new position in shares of Gen Digital in the first quarter valued at about $41,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Gen Digital in the third quarter valued at about $44,000. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Gen Digital during the 3rd quarter worth about $47,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Gen Digital by 86.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,921 shares of the company’s stock worth $48,000 after buying an additional 893 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

About Gen Digital

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.