Key Points
- Insider sale: Gen Digital insider Travis Michael Witteveen sold 30,000 shares at an average price of $29.42, generating $882,600. He retained 496,545 shares after the transaction.
- Quarterly performance: Gen Digital exceeded earnings and revenue expectations, reporting adjusted EPS of $0.71 and revenue of $1.34 billion. Revenue increased 6.3% year over year.
- Dividend and outlook: The company declared a quarterly dividend of $0.125 per share, equivalent to a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $31.67.
Gen Digital Inc. (NASDAQ:GEN - Get Free Report) insider Travis Michael Witteveen sold 30,000 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the completion of the transaction, the insider owned 496,545 shares in the company, valued at approximately $14,608,353.90. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Gen Digital Stock Down 1.3%
Gen Digital stock opened at $28.64 on Thursday. The firm has a 50 day moving average price of $26.07 and a 200-day moving average price of $23.39. The company has a quick ratio of 0.40, a current ratio of 0.47 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a twelve month low of $17.78 and a twelve month high of $32.22. The company has a market capitalization of $17.14 billion, a P/E ratio of 16.65 and a beta of 1.21.
Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.71 EPS 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 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 firm posted $0.64 EPS. Gen Digital's 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. As a group, equities analysts predict that Gen Digital Inc. will post 2.61 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 paid a $0.125 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. Gen Digital's payout ratio is presently 29.07%.
Hedge Funds Weigh In On Gen Digital
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEN. Goldman Sachs Group Inc. raised its holdings in shares of Gen Digital by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company's stock valued at $71,757,000 after acquiring an additional 28,522 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Gen Digital during the first quarter valued at approximately $205,000. Woodline Partners LP grew its stake in Gen Digital by 37.8% in the 1st quarter. Woodline Partners LP now owns 27,590 shares of the company's stock worth $732,000 after buying an additional 7,562 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Gen Digital by 9.7% in the 1st quarter. Focus Partners Wealth now owns 22,347 shares of the company's stock worth $593,000 after buying an additional 1,980 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Gen Digital by 221.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after buying an additional 1,183 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
GEN has been the subject of several research reports. Weiss Ratings upgraded Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada upped their price objective 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. Wells Fargo & Company boosted their price target on shares of Gen Digital from $22.00 to $28.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Barclays upped their price target on shares of Gen Digital from $27.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Gen Digital from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $31.67.
View Our Latest Analysis on Gen Digital
Gen Digital Company Profile
(
Get Free Report)
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.
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