Insider Selling: Gen Digital (NASDAQ:GEN) Director Sells $4,418,382.00 in Stock

Gen Digital Inc. (NASDAQ:GEN) Director Ondrej Vlcek sold 152,358 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $29.00, for a total transaction of $4,418,382.00. Following the transaction, the director owned 3,532,904 shares in the company, valued at approximately $102,454,216. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Ondrej Vlcek also recently made the following trade(s):

• On Thursday, August 27th, Ondrej Vlcek sold 200,000 shares of Gen Digital stock. The shares were sold at an average price of $30.00, for a total transaction of $6,000,000.00.
• On Friday, August 21st, Ondrej Vlcek sold 47,462 shares of Gen Digital stock. The stock was sold at an average price of $29.00, for a total transaction of $1,376,398.00.
• On Wednesday, August 19th, Ondrej Vlcek sold 100,000 shares of Gen Digital stock. The stock was sold at an average price of $28.00, for a total value of $2,800,000.00.
• On Wednesday, June 10th, Ondrej Vlcek sold 100,000 shares of Gen Digital stock. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00.

Gen Digital Stock Up 1.7%

Shares of NASDAQ GEN opened at $31.02 on Friday. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $31.29. The stock’s fifty day simple moving average is $27.06 and its two-hundred day simple moving average is $23.81. The stock has a market capitalization of $18.57 billion, a PE ratio of 18.03 and a beta of 1.21. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous 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, analysts expect that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, August 17th. Gen Digital’s payout ratio is 29.07%.

Analysts Set New Price Targets

GEN has been the subject of several analyst reports. Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. 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 objective on shares of Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Argus raised shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Finally, Barclays raised their target price on shares of Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.67.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GEN. Assenagon Asset Management S.A. acquired a new stake in shares of Gen Digital during the second quarter worth $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Gen Digital by 9.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock valued at $30,128,000 after buying an additional 102,345 shares during the last quarter. Legal & General Group Plc increased its position in shares of Gen Digital by 3.8% in the 4th quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock valued at $247,027,000 after acquiring an additional 334,156 shares during the period. National Pension Service increased its position in shares of Gen Digital by 13.6% in the 4th quarter. National Pension Service now owns 934,892 shares of the company’s stock valued at $25,420,000 after acquiring an additional 112,136 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Gen Digital by 17.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company’s stock worth $7,245,000 after acquiring an additional 58,319 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Company Profile

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.