Insider Selling: Gen Digital (NASDAQ:GEN) Director Sells $1,376,398.00 in Stock

Gen Digital Inc. (NASDAQ:GEN) Director Ondrej Vlcek sold 47,462 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $29.00, for a total transaction of $1,376,398.00. Following the sale, the director directly owned 3,685,262 shares in the company, valued at approximately $106,872,598. The trade was a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $28.00, for a total transaction 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 transaction of $2,478,000.00.

Gen Digital Stock Performance

GEN stock traded up $0.20 on Tuesday, hitting $29.31. The company had a trading volume of 6,197,498 shares, compared to its average volume of 6,608,867. 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 $31.13. The stock has a market cap of $17.54 billion, a price-to-earnings ratio of 17.04 and a beta of 1.21. The stock’s 50-day simple moving average is $26.59 and its 200 day simple moving average is $23.62.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share 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 firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm earned $0.64 EPS. The company’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, equities research analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently declared 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. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 17th. Gen Digital’s dividend payout ratio (DPR) is currently 29.07%.

Institutional Investors Weigh In On Gen Digital

Several institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont purchased a new position in Gen Digital during the second quarter worth $32,000. International Assets Investment Management LLC purchased a new position in shares of Gen Digital during the 4th quarter worth about $27,000. Grove Bank & Trust grew its holdings in Gen Digital by 452.2% during the 2nd quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock valued at $28,000 after purchasing an additional 927 shares during the last quarter. TD Private Client Wealth LLC raised its position in Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after purchasing an additional 611 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in Gen Digital in the second quarter worth about $47,000. 81.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEN. Barclays increased their price objective on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings upgraded Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Royal Bank Of Canada increased their price target 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. Finally, Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One equities research 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. Based on data from MarketBeat, the company currently has a consensus 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.