Wealthfront Advisers LLC Takes $965,000 Position in Gen Digital Inc. $GEN

Wealthfront Advisers LLC purchased a new position in Gen Digital Inc. (NASDAQ:GEN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 38,785 shares of the company’s stock, valued at approximately $965,000.

Several other large investors have also recently made changes to their positions in the company. Deutsche Bank AG purchased a new position in Gen Digital in the 2nd quarter valued at $146,639,000. Bank of New York Mellon Corp purchased a new stake in shares of Gen Digital during the second quarter worth $108,421,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Gen Digital by 45.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock worth $246,567,000 after buying an additional 4,115,676 shares in the last quarter. First Trust Advisors LP raised its position in shares of Gen Digital by 22.3% in the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock valued at $542,211,000 after buying an additional 3,640,451 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Gen Digital in the fourth quarter valued at about $70,248,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Gen Digital Stock Up 2.7%

Shares of GEN opened at $28.93 on Friday. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.88. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00. The stock has a fifty day simple moving average of $26.49 and a two-hundred day simple moving average of $23.57. The company has a market capitalization of $17.32 billion, a PE ratio of 16.82 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The company’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. As a group, equities analysts forecast that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 17th. Gen Digital’s payout ratio is presently 29.07%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GEN. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada raised their target price 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. Finally, Wells Fargo & Company boosted their target price on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.67.

Insider Buying and Selling at Gen Digital

In other news, Director John C. Chrystal purchased 3,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was acquired at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the acquisition, the director directly owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. This represents a 10.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Travis Michael Witteveen sold 30,000 shares of Gen Digital stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the sale, the insider directly owned 496,545 shares in the company, valued at approximately $14,608,353.90. The trade was a 5.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 230,440 shares of company stock worth $6,172,946 in the last ninety days. 9.70% of the stock is owned by insiders.

Gen Digital 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.