Gen Digital (NASDAQ:GEN) Stock Price Target Cut by Royal Bank Of Canada

Gen Digital (NASDAQ:GEN) had its price objective decreased by equities research analysts at Royal Bank Of Canada from $26.00 to $24.00 in a research note issued on Monday, MarketBeat Ratings reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 0.80% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. 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. Weiss Ratings lowered Gen Digital from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Barclays boosted their target price on Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.25.

Gen Digital Price Performance

Shares of NASDAQ GEN opened at $23.81 on Monday. The firm has a market cap of $14.25 billion, a PE ratio of 10.20, a PEG ratio of 0.73 and a beta of 1.26. 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 has a 1-year low of $17.78 and a 1-year high of $31.65. The company has a fifty day moving average price of $27.44 and a 200 day moving average price of $24.83.

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 during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company earned $0.64 EPS. The company’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. Research analysts predict that Gen Digital will post 2.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Gen Digital

In other Gen Digital news, Director Ondrej Vlcek sold 200,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the sale, the director directly owned 3,332,904 shares of the company’s stock, valued at $99,987,120. The trade was a 5.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Bryan Seuk Ko sold 28,248 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $30.67, for a total transaction of $866,366.16. Following the sale, the chief operating officer directly owned 744,262 shares in the company, valued at $22,826,515.54. This trade represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 558,508 shares of company stock worth $16,356,093. Insiders own 9.70% of the company’s stock.

Institutional Trading of Gen Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its stake in Gen Digital by 45.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock valued at $246,567,000 after purchasing an additional 4,115,676 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Gen Digital during the 2nd quarter worth approximately $225,169,000. Deutsche Bank AG bought a new stake in shares of Gen Digital during the 2nd quarter worth approximately $146,639,000. Bank of New York Mellon Corp bought a new stake in shares of Gen Digital during the 2nd quarter worth approximately $108,421,000. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Gen Digital by 26.8% in the 1st quarter. Pictet Asset Management Holding SA now owns 5,272,058 shares of the company’s stock valued at $99,212,000 after buying an additional 1,115,390 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

About Gen Digital

Gen Digital Inc is a global cybersecurity and digital safety company that provides products and services designed to help consumers protect their devices, online privacy, personal information and digital identities. Its offerings include antivirus and malware protection, online privacy tools, identity theft protection, password management, scam and fraud protection, and utilities that support device performance and security.

The company markets its products under a portfolio of well-known brands, including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner.