Paralel Advisors LLC Takes Position in Gen Digital Inc. $GEN

Paralel Advisors LLC acquired a new stake in Gen Digital Inc. (NASDAQ:GEN) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 122,671 shares of the company’s stock, valued at approximately $3,053,000.

Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in Gen Digital by 1.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock worth $71,757,000 after acquiring an additional 28,522 shares during the last quarter. Great Lakes Advisors LLC bought a new position in shares of Gen Digital during the first quarter valued at $205,000. Woodline Partners LP raised its stake in shares of Gen Digital by 37.8% during the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock valued at $732,000 after acquiring an additional 7,562 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Gen Digital by 9.7% during the first quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock worth $593,000 after purchasing an additional 1,980 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after purchasing an additional 1,183 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on GEN. Argus raised shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Barclays raised 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 lifted their target price on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.67.

Insider Transactions at Gen Digital

In related news, Director Ondrej Vlcek sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the sale, the director owned 3,832,724 shares in the company, valued at $94,974,900.72. This represents a 2.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Chrystal bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $27.06 per share, with a total value of $81,180.00. Following the purchase, the director directly owned 31,419 shares of the company’s stock, valued at $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 130,440 shares of company stock valued at $3,372,946. Corporate insiders own 9.70% of the company’s stock.

Gen Digital Trading Up 2.3%

NASDAQ:GEN opened at $28.17 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 debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s fifty day moving average is $26.40 and its 200-day moving average is $23.53. The firm has a market cap of $16.86 billion, a P/E ratio of 16.38 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm earned $0.64 earnings per share. Gen Digital’s quarterly 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. Equities analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Dividend Announcement

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

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.