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

Gen Digital Inc. (NASDAQ:GEN) insider Travis Michael Witteveen sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the sale, the insider directly owned 496,545 shares in the company, valued at approximately $14,608,353.90. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Gen Digital Stock Performance

NASDAQ:GEN opened at $29.57 on Friday. The stock has a market capitalization of $17.70 billion, a PE ratio of 17.19 and a beta of 1.21. The company has a fifty day moving average of $26.13 and a two-hundred day moving average of $23.42. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.40 and a current ratio of 0.47. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $32.09.

Gen Digital (NASDAQ:GEN) last issued its quarterly 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 firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. Gen Digital’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $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. As a group, research analysts forecast that Gen Digital Inc. will post 2.61 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio (DPR) is currently 29.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in Gen Digital in the 2nd quarter valued at about $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Gen Digital by 9.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock worth $30,128,000 after acquiring an additional 102,345 shares during the period. Legal & General Group Plc boosted its position in shares of Gen Digital by 3.8% in the fourth quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock worth $247,027,000 after acquiring an additional 334,156 shares during the last quarter. LBP AM SA boosted its position in shares of Gen Digital by 63.7% in the fourth quarter. LBP AM SA now owns 738,272 shares of the company’s stock worth $20,074,000 after acquiring an additional 287,369 shares during the last quarter. Finally, National Pension Service grew its holdings in Gen Digital by 13.6% in the fourth quarter. National Pension Service now owns 934,892 shares of the company’s stock valued at $25,420,000 after purchasing an additional 112,136 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group cut shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays upped their target price on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Wells Fargo & Company upped their price objective on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised shares of Gen Digital from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Gen Digital has an average rating of “Hold” and a consensus target price of $31.67.

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.