Ondrej Vlcek Sells 200,000 Shares of Gen Digital (NASDAQ:GEN) Stock

Gen Digital Inc. (NASDAQ:GEN) Director Ondrej Vlcek sold 200,000 shares of Gen Digital 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 of the company’s stock, valued at $99,987,120. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Ondrej Vlcek also recently made the following trade(s):

• On Tuesday, August 25th, Ondrej Vlcek sold 152,358 shares of Gen Digital stock. The shares were sold at an average price of $29.00, for a total value of $4,418,382.00.
• On Friday, August 21st, Ondrej Vlcek sold 47,462 shares of Gen Digital stock. The shares were sold at an average price of $29.00, for a total value of $1,376,398.00.
• On Wednesday, August 19th, Ondrej Vlcek sold 100,000 shares of Gen Digital stock. The stock was sold at an average price of $28.00, for a total value of $2,800,000.00.
• On Wednesday, June 10th, Ondrej Vlcek sold 100,000 shares of Gen Digital stock. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00.

Gen Digital Price Performance

Shares of GEN opened at $31.02 on Friday. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $31.29. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 18.03 and a beta of 1.21. The stock has a 50 day moving average of $27.06 and a 200-day moving average of $23.81.

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 business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $0.64 EPS. The business’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, analysts forecast that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

The firm 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 dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio is 29.07%.

Hedge Funds Weigh In On Gen Digital

A number of institutional investors and hedge funds have recently bought and sold shares of GEN. Vanguard Group Inc. raised its position in shares of Gen Digital by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock worth $1,993,302,000 after buying an additional 1,096,313 shares in the last quarter. State Street Corp boosted its holdings in shares of Gen Digital by 3.4% in the third quarter. State Street Corp now owns 30,558,806 shares of the company’s stock valued at $867,565,000 after acquiring an additional 1,015,755 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Gen Digital by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock valued at $660,730,000 after acquiring an additional 1,406,869 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Gen Digital by 22.3% during the fourth 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 period. Finally, California State Teachers Retirement System increased its stake in shares of Gen Digital by 2,001.9% during the second quarter. California State Teachers Retirement System now owns 18,221,421 shares of the company’s stock valued at $453,531,000 after acquiring an additional 17,354,503 shares during the period. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Argus raised shares of Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Royal Bank Of Canada increased their price objective 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. Barclays raised their target price on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Finally, Wells Fargo & Company upped their target price on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Gen Digital presently has an average rating of “Hold” and a consensus price target of $31.67.

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.