Gen Digital (NASDAQ:GEN) Given New $35.00 Price Target at Argus

Gen Digital (NASDAQ:GEN) had its target price raised by stock analysts at Argus from $32.00 to $35.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Argus‘s target price would suggest a potential upside of 15.90% from the stock’s previous close.

GEN has been the topic of several other reports. Morgan Stanley lifted their price target on shares of Gen Digital from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Royal Bank Of Canada increased their price objective on shares of Gen Digital from $24.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. Weiss Ratings upgraded shares of Gen Digital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, November 4th. Wall Street Zen raised shares of Gen Digital from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Wells Fargo & Company upped their price target on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.20.

Gen Digital Stock Performance

GEN opened at $30.20 on Wednesday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $17.92 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 0.94 and a beta of 1.24. The business’s fifty day moving average is $26.53 and its 200-day moving average is $24.54. Gen Digital has a 52-week low of $17.78 and a 52-week high of $31.65.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Gen Digital had a net margin of 23.07% and a return on equity of 56.80%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm posted $0.62 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. Sell-side analysts expect that Gen Digital will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling at Gen Digital

In other news, insider Travis Witteveen sold 30,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $29.75, for a total transaction of $892,500.00. Following the completion of the transaction, the insider owned 466,545 shares of the company’s stock, valued at approximately $13,879,713.75. This trade represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ondrej Vlcek sold 200,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the transaction, the director directly owned 3,332,904 shares of the company’s stock, valued at $99,987,120. The trade was a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 558,508 shares of company stock worth $16,365,993. 9.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in shares of Gen Digital by 14.5% in the first quarter. EverSource Wealth Advisors LLC now owns 3,376 shares of the company’s stock valued at $64,000 after buying an additional 427 shares during the period. Allworth Financial LP lifted its stake in shares of Gen Digital by 5.3% in the third quarter. Allworth Financial LP now owns 9,404 shares of the company’s stock worth $207,000 after acquiring an additional 472 shares during the period. CENTRAL TRUST Co boosted its holdings in Gen Digital by 14.7% in the third quarter. CENTRAL TRUST Co now owns 4,564 shares of the company’s stock valued at $100,000 after acquiring an additional 584 shares during the last quarter. Cookson Peirce & Co. Inc. increased its position in Gen Digital by 5.1% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 12,231 shares of the company’s stock valued at $304,000 after purchasing an additional 591 shares during the period. Finally, Empirical Finance LLC increased its position in Gen Digital by 3.4% during the 2nd quarter. Empirical Finance LLC now owns 20,252 shares of the company’s stock valued at $504,000 after purchasing an additional 659 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

About Gen Digital

Gen Digital Inc. is a global cybersecurity company that provides digital safety and identity protection services to consumers and small businesses. Its products include antivirus and malware protection, virtual private networks, password managers, scam protection, and identity monitoring and recovery services. The company offers services through brands including Norton, Avast, LifeLock, Avira, AVG, and CCleaner. Its products are available in markets around the world through direct subscriptions and other distribution channels.