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 firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $28.06, for a total transaction of $12,346.40. Following the completion of the sale, the insider directly owned 496,545 shares of the company’s stock, valued at approximately $13,933,052.70. This represents a 0.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 stock was sold at an average price of $29.42, for a total value of $882,600.00.

Gen Digital Stock Up 2.3%

NASDAQ:GEN opened at $28.17 on Friday. The company has a market cap of $16.86 billion, a price-to-earnings ratio of 16.38 and a beta of 1.21. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s fifty day moving average price is $26.40 and its two-hundred day moving average price is $23.53. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.88.

Gen Digital (NASDAQ:GEN) last released its earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $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. On average, analysts anticipate that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Wells Fargo & Company upped their target price on shares of Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. 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. Jefferies Financial Group cut shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada boosted their price target 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. One 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 company. According to MarketBeat.com, Gen Digital currently has an average rating of “Hold” and a consensus target price of $31.67.

Institutional Investors Weigh In On Gen Digital

A number of institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in Gen Digital during the second quarter worth about $225,169,000. Deutsche Bank AG acquired a new position in shares of Gen Digital during the 2nd quarter worth about $146,639,000. Bank of New York Mellon Corp acquired a new position in shares of Gen Digital during the 2nd quarter worth about $108,421,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Gen Digital by 45.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock valued at $246,567,000 after acquiring an additional 4,115,676 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Gen Digital by 22.3% in the 4th quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock valued at $542,211,000 after acquiring an additional 3,640,451 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.