Insider Selling: Gen Digital (NASDAQ:GEN) Insider Sells $12,346.40 in Stock

Gen Digital Inc. (NASDAQ:GEN) insider Travis Michael Witteveen sold 440 shares of Gen Digital stock in a transaction on Monday, August 17th. The shares were sold at an average price of $28.06, for a total value of $12,346.40. Following the transaction, the insider owned 496,545 shares in the company, valued at approximately $13,933,052.70. This trade represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, August 10th, Travis Michael 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 2.7%

Shares of GEN stock opened at $28.93 on Friday. The stock has a 50-day simple moving average of $26.49 and a 200 day simple moving average of $23.57. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $31.88. The stock has a market capitalization of $17.32 billion, a P/E ratio of 16.82 and a beta of 1.21. The company has a quick ratio of 0.47, a current 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company earned $0.64 earnings per share. Gen Digital’s revenue was up 6.3% compared to the same quarter last year. 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, sell-side analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. Gen Digital’s payout ratio is currently 29.07%.

Wall Street Analyst Weigh In

GEN has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Jefferies Financial Group lowered shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays upped their price target on Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Royal Bank Of Canada increased their price objective on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Finally, Argus raised Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.67.

Institutional Trading of Gen Digital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Syon Capital LLC boosted its holdings in shares of Gen Digital by 128.0% in the second quarter. Syon Capital LLC now owns 28,499 shares of the company’s stock worth $709,000 after buying an additional 16,002 shares during the period. denkapparat Operations GmbH purchased a new position in shares of Gen Digital in the second quarter worth approximately $697,000. iSAM Funds UK Ltd purchased a new position in shares of Gen Digital in the second quarter worth approximately $339,000. Nykredit A S acquired a new stake in shares of Gen Digital during the second quarter valued at approximately $2,704,000. Finally, Railway Pension Investments Ltd raised its holdings in shares of Gen Digital by 98.6% during the second quarter. Railway Pension Investments Ltd now owns 1,320,600 shares of the company’s stock valued at $32,870,000 after acquiring an additional 655,500 shares during the period. Institutional investors and hedge funds 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.