ExodusPoint Capital Management LP Increases Stock Position in Gen Digital Inc. $GEN

ExodusPoint Capital Management LP increased its position in Gen Digital Inc. (NASDAQ:GEN) by 245.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 818,301 shares of the company’s stock after acquiring an additional 581,140 shares during the period. ExodusPoint Capital Management LP owned about 0.14% of Gen Digital worth $22,250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GEN. First Trust Advisors LP raised its holdings in Gen Digital by 22.3% in the 4th quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock worth $542,211,000 after acquiring an additional 3,640,451 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Gen Digital in the 4th quarter worth approximately $70,248,000. Arrowstreet Capital Limited Partnership raised its holdings in Gen Digital by 36.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,978,710 shares of the company’s stock worth $244,131,000 after acquiring an additional 2,377,874 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Gen Digital by 167.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,328,737 shares of the company’s stock worth $90,508,000 after acquiring an additional 2,082,850 shares during the last quarter. Finally, Boston Partners raised its holdings in Gen Digital by 14.3% in the 4th quarter. Boston Partners now owns 15,644,289 shares of the company’s stock worth $425,336,000 after acquiring an additional 1,954,712 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 transaction of $2,478,000.00. Following the completion of the sale, the director owned 3,832,724 shares of the company’s stock, valued at $94,974,900.72. The trade was a 2.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Chrystal acquired 3,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were acquired at an average cost of $27.06 per share, with a total value of $81,180.00. Following the transaction, the director owned 31,419 shares in the company, valued at approximately $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 9.30% of the company’s stock.

Gen Digital Trading Up 0.7%

NASDAQ:GEN opened at $24.57 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $32.22. The company has a market cap of $14.80 billion, a PE ratio of 15.55 and a beta of 1.21. The company has a 50 day simple moving average of $22.35 and a two-hundred day simple moving average of $23.56.

Gen Digital (NASDAQ:GEN) last posted its earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm’s revenue was up 27.0% on a year-over-year basis. 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. Research analysts forecast that Gen Digital Inc. will post 2.59 earnings per share for the current year.

Gen Digital Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Wells Fargo & Company began coverage on shares of Gen Digital in a research report on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 target price for the company. Finally, Royal Bank Of Canada lifted their target price on shares of Gen Digital from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.29.

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.