Travis Michael Witteveen Sells 440 Shares of Gen Digital (NASDAQ:GEN) Stock

Gen Digital Inc. (NASDAQ:GEN) insider Travis Michael Witteveen sold 440 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $28.06, for a total value of $12,346.40. Following the sale, the insider owned 496,545 shares of the company’s stock, valued at approximately $13,933,052.70. The trade was a 0.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 Stock Down 0.4%

NASDAQ:GEN traded down $0.10 on Wednesday, reaching $27.54. The stock had a trading volume of 4,239,924 shares, compared to its average volume of 6,619,896. The stock has a market cap of $16.49 billion, a P/E ratio of 16.01 and a beta of 1.21. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $31.88. The company has a 50-day moving average of $26.26 and a 200 day moving average of $23.48. 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 posted its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. 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, research analysts predict that Gen Digital Inc. will post 2.61 earnings per share for the current year.

Gen Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s payout ratio is currently 29.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GEN. Royal Bank Of Canada lifted their price objective on shares of Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. 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. Barclays raised their price objective 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. Wells Fargo & Company boosted their price target on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday. 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.67.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in Gen Digital in the second quarter valued at approximately $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in 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 buying an additional 102,345 shares during the last quarter. Legal & General Group Plc lifted its stake 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 valued at $247,027,000 after purchasing an additional 334,156 shares during the period. National Pension Service boosted its stake in shares of Gen Digital by 13.6% during the fourth 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 last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Gen Digital by 17.9% during the first quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company’s stock valued at $7,245,000 after buying an additional 58,319 shares during the period. Institutional investors own 81.38% of the company’s stock.

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.