61,729 Gen Digital Inc. $GEN Shares Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings cut its Gen Digital stake by 62.9% in the third quarter, selling 61,729 shares and retaining 36,427 shares valued at approximately $802,000.
• Gen Digital insiders sold 558,508 shares worth about $16.4 million over the past 90 days, while institutional investors collectively own 81.38% of the company.
• Analysts’ consensus rating is Hold, with an average price target of $30.25. Gen Digital recently exceeded quarterly earnings and revenue expectations and pays a $0.50 annualized dividend, yielding about 2.0%.

Crossmark Global Holdings Inc. reduced its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 62.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,427 shares of the company's stock after selling 61,729 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Gen Digital were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Grove Bank & Trust raised its position in Gen Digital by 452.2% in the 2nd quarter. Grove Bank & Trust now owns 1,132 shares of the company's stock worth $28,000 after buying an additional 927 shares during the last quarter. Weiss Asset Management LP bought a new position in Gen Digital during the 1st quarter valued at about $41,000. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Gen Digital during the 3rd quarter valued at about $47,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Gen Digital by 86.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,921 shares of the company's stock valued at $48,000 after acquiring an additional 893 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in shares of Gen Digital during the 3rd quarter valued at about $49,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Travis Witteveen sold 30,000 shares of Gen Digital stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the transaction, the insider owned 496,545 shares in the company, valued at $14,608,353.90. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ondrej Vlcek sold 200,000 shares of Gen Digital stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the transaction, the director owned 3,332,904 shares in the company, valued at $99,987,120. This represents a 5.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 558,508 shares of company stock worth $16,356,093. Company insiders own 9.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GEN shares. Wall Street Zen cut shares of Gen Digital from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Weiss Ratings upgraded shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, October 16th. Wells Fargo & Company raised their target price 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. Barclays lifted their target price on shares of Gen Digital from $27.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their target price on shares of Gen Digital from $26.00 to $24.00 and set a "sector perform" rating for the company in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $30.25.

Gen Digital Price Performance

NASDAQ GEN opened at $24.41 on Tuesday. The company has a 50-day moving average price of $26.68 and a 200-day moving average price of $24.40. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $31.65. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00. The firm has a market capitalization of $14.61 billion, a P/E ratio of 10.86, a PEG ratio of 0.78 and a beta of 1.26.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The firm's revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. 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 research analysts anticipate that Gen Digital Inc. will post 2.66 earnings per share for the current year.

Gen Digital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th were given a $0.1250 dividend. The ex-dividend date was Monday, August 17th. This represents a $0.50 annualized dividend and a yield of 2.0%. Gen Digital's dividend payout ratio (DPR) is presently 29.07%.

About Gen Digital

Gen Digital Inc NASDAQ: GEN is a cybersecurity company that provides digital safety, privacy, and identity protection products for consumers. Its services are designed to help protect devices, personal information, online accounts, and digital identities from malware, fraud, identity theft, scams, and other cyber threats.

The company operates a portfolio of consumer brands that includes Norton, Avast, LifeLock, Avira, AVG, ReputationDefender, and CCleaner. Its offerings include antivirus and device security software, virtual private network services, password management, identity theft monitoring and restoration support, privacy tools, scam protection, and performance and optimization utilities.

Gen Digital serves customers internationally through direct subscriptions and distribution partnerships.

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