Gen Digital (NASDAQ:GEN) Insider Travis Michael Witteveen Sells 440 Shares of Stock

Gen Digital Inc. (NASDAQ:GEN) insider Travis Michael Witteveen sold 440 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 496,545 shares in the company, valued at approximately $13,933,052.70. The trade was a 0.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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 transaction of $882,600.00.

Gen Digital Trading Down 0.4%

NASDAQ:GEN opened at $27.54 on Thursday. The company has a 50-day moving average price of $26.31 and a 200-day moving average price of $23.50. The stock has a market cap of $16.49 billion, a price-to-earnings ratio of 16.01 and a beta of 1.21. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $31.88.

Gen Digital (NASDAQ:GEN) last announced 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 net margin of 20.73% and a return on equity of 55.93%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company 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 predict that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

The company 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. The ex-dividend date is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.8%. Gen Digital’s dividend payout ratio is 29.07%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday. Argus raised Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays raised their price objective on Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada boosted their target price on shares of Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Gen Digital currently has a consensus rating of “Hold” and an average price target of $31.67.

Hedge Funds Weigh In On Gen Digital

Several large investors have recently made changes to their positions in GEN. Larson Financial Group LLC grew its stake in shares of Gen Digital by 20.9% in the 3rd quarter. Larson Financial Group LLC now owns 2,255 shares of the company’s stock worth $64,000 after buying an additional 390 shares during the last quarter. Trust Co. of Vermont bought a new stake in Gen Digital in the second quarter worth $32,000. EverSource Wealth Advisors LLC boosted its holdings in Gen Digital by 14.5% in the first quarter. EverSource Wealth Advisors LLC now owns 3,376 shares of the company’s stock worth $64,000 after acquiring an additional 427 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Gen Digital by 1.6% in the third quarter. Vident Advisory LLC now owns 26,906 shares of the company’s stock worth $764,000 after acquiring an additional 428 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Gen Digital by 5.9% in the fourth quarter. Fisher Asset Management LLC now owns 7,735 shares of the company’s stock worth $210,000 after acquiring an additional 430 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

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.