27,635 Gen Digital Inc. $GEN Shares Sold by Convergence Financial LLC

Convergence Financial LLC trimmed its stake in Gen Digital Inc. (NASDAQ:GEN) by 29.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 64,839 shares of the company’s stock after selling 27,635 shares during the period. Convergence Financial LLC’s holdings in Gen Digital were worth $1,428,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Valley National Advisers Inc. grew its stake in shares of Gen Digital by 154,977.6% during the third quarter. Valley National Advisers Inc. now owns 75,988 shares of the company’s stock valued at $1,673,000 after buying an additional 75,939 shares during the last quarter. Kendall Capital Management raised its stake in Gen Digital by 5.2% in the third quarter. Kendall Capital Management now owns 207,970 shares of the company’s stock worth $4,579,000 after buying an additional 10,345 shares in the last quarter. Root Financial Partners LLC purchased a new position in Gen Digital in the third quarter valued at about $59,000. Vest Financial LLC grew its stake in Gen Digital by 3.1% in the third quarter. Vest Financial LLC now owns 91,532 shares of the company’s stock valued at $2,016,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Gen Digital by 8.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,377,320 shares of the company’s stock worth $52,349,000 after buying an additional 176,207 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Gen Digital news, insider Travis Witteveen sold 30,000 shares of the 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 owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ondrej Vlcek sold 200,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $30.00, for a total value of $6,000,000.00. Following the completion of the transaction, the director owned 3,332,904 shares in the company, valued at approximately $99,987,120. This trade represents a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 558,508 shares of company stock valued at $16,356,093. Company insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GEN shares. Barclays raised their price target on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Wells Fargo & Company increased their target price on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Royal Bank Of Canada lowered their price objective on Gen Digital from $26.00 to $24.00 and set a “sector perform” rating on the stock in a report on Monday, October 12th. Finally, Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Gen Digital presently has an average rating of “Hold” and an average target price of $30.25.

Key Stories Impacting Gen Digital

Here are the key news stories impacting Gen Digital this week:

• Positive Sentiment: Quarterly results exceeded expectations. Gen Digital reported adjusted earnings of $0.74 per share, above the $0.72 analyst consensus and up from $0.62 a year earlier. Revenue increased 12.2% year over year to $1.37 billion, topping the $1.34 billion estimate. Gen Digital Q2 earnings and revenues top estimates
• Positive Sentiment: Management raised its fiscal 2027 outlook. The company cited strong cybersecurity demand and another quarter of double-digit growth, while increasing its annual revenue forecast. It also provided guidance for the third quarter, giving investors additional visibility into near-term performance. Gen Digital raises annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Gen outperformed several cybersecurity peers. Gen Digital rose as Fortinet plunged after hours and dragged Tenable lower, suggesting investors viewed Gen’s results and outlook as comparatively resilient within the cybersecurity sector. Fortinet plunges after hours as Gen Digital rises
• Neutral Sentiment: The earnings call reinforced the results. Management discussed the second-quarter performance, demand trends and the company’s updated fiscal 2027 expectations, providing context for the improved outlook. Gen Digital Q2 2027 earnings call transcript
• Negative Sentiment: Technical indicators remain a headwind. The stock recently crossed below its 200-day moving average, while its 50-day average remains above the current trading level. This may limit enthusiasm among technically focused investors despite the favorable earnings report. Gen Digital stock crosses below its 200-day moving average

Gen Digital Stock Performance

Shares of GEN opened at $24.35 on Thursday. The stock has a market capitalization of $14.58 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.78 and a beta of 1.26. The company’s fifty day moving average is $26.47 and its two-hundred day moving average is $24.37. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $31.65. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Wednesday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, sell-side analysts predict that Gen Digital Inc. will post 2.66 earnings per share for the current year.

Gen Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th were paid a dividend of $0.1250 per share. This represents a $0.50 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, August 17th. Gen Digital’s payout ratio is currently 29.07%.

Gen Digital Profile

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.