Gen Digital (NASDAQ:GEN) Director Ondrej Vlcek Sells 47,462 Shares

Gen Digital Inc. (NASDAQ:GEN) Director Ondrej Vlcek sold 47,462 shares of Gen Digital stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $29.00, for a total value of $1,376,398.00. Following the completion of the sale, the director owned 3,685,262 shares in the company, valued at approximately $106,872,598. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Wednesday, August 19th, Ondrej Vlcek sold 100,000 shares of Gen Digital stock. The shares were 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 shares were sold at an average price of $24.78, for a total value of $2,478,000.00.

Gen Digital Stock Performance

Shares of GEN stock opened at $29.31 on Wednesday. The firm has a market capitalization of $17.54 billion, a price-to-earnings ratio of 17.04 and a beta of 1.21. The stock has a fifty day moving average of $26.68 and a 200 day moving average of $23.66. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $31.13. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm earned $0.64 EPS. The company’s quarterly 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, research analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Announces Dividend

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

Hedge Funds Weigh In On Gen Digital

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Gen Digital by 1.5% in 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 during the last quarter. State Street Corp increased its position in Gen Digital by 3.4% during the 3rd quarter. State Street Corp now owns 30,558,806 shares of the company’s stock valued at $867,565,000 after buying an additional 1,015,755 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Gen Digital by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock valued at $660,730,000 after buying an additional 1,406,869 shares during the last quarter. First Trust Advisors LP boosted its holdings in Gen Digital by 22.3% in the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock worth $542,211,000 after acquiring an additional 3,640,451 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Gen Digital by 2,001.9% in the second quarter. California State Teachers Retirement System now owns 18,221,421 shares of the company’s stock worth $453,531,000 after acquiring an additional 17,354,503 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GEN has been the subject of a number of research reports. 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. Barclays increased their target price on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Royal Bank Of Canada raised their target price on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Argus raised Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Finally, Wells Fargo & Company increased their price objective 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 investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.67.

About Gen Digital

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.