Arkadios Wealth Advisors Acquires New Holdings in Gen Digital Inc. (NASDAQ:GEN)

Key Points

• Arkadios Wealth Advisors has acquired a new stake of 14,901 shares in Gen Digital Inc., valued at approximately $395,000, as per their latest 13F filing.
• Institutional investors, including Penserra Capital Management and Victory Capital Management, have significantly increased their holdings in Gen Digital during the first quarter, with institutional ownership now at 81.38%.
• Analysts have mixed ratings for Gen Digital, with a recent consensus price target of $33.60 and three analysts rating it as a hold while two have given it a strong buy rating.

Arkadios Wealth Advisors acquired a new stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,901 shares of the company's stock, valued at approximately $395,000.

A number of other institutional investors have also recently bought and sold shares of GEN. Penserra Capital Management LLC boosted its holdings in shares of Gen Digital by 33.0% in the first quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company's stock valued at $78,880,000 after buying an additional 736,809 shares during the period. KBC Group NV boosted its holdings in shares of Gen Digital by 32.7% in the first quarter. KBC Group NV now owns 2,769,361 shares of the company's stock valued at $73,499,000 after buying an additional 682,530 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gen Digital in the fourth quarter valued at approximately $14,367,000. Victory Capital Management Inc. boosted its holdings in shares of Gen Digital by 81.1% in the first quarter. Victory Capital Management Inc. now owns 1,006,843 shares of the company's stock valued at $26,722,000 after buying an additional 450,955 shares during the period. Finally, Achmea Investment Management B.V. boosted its holdings in shares of Gen Digital by 40.2% in the first quarter. Achmea Investment Management B.V. now owns 1,454,610 shares of the company's stock valued at $38,605,000 after buying an additional 417,206 shares during the period. Institutional investors and hedge funds own 81.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GEN. Morgan Stanley reduced their price target on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Barclays upped their price target on shares of Gen Digital from $30.00 to $32.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. B. Riley started coverage on shares of Gen Digital in a report on Monday, July 14th. They set a "buy" rating and a $46.00 target price for the company. Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Finally, Royal Bank Of Canada increased their target price on shares of Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Gen Digital currently has an average rating of "Moderate Buy" and a consensus price target of $33.60.

Insider Buying and Selling at Gen Digital

In other news, Director Nora Denzel sold 31,646 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director directly owned 34,860 shares of the company's stock, valued at $1,002,573.60. This represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.30% of the stock is owned by insiders.

Gen Digital Price Performance

Shares of GEN opened at $28.58 on Wednesday. The firm has a market capitalization of $17.60 billion, a PE ratio of 27.48, a PEG ratio of 1.06 and a beta of 1.00. The company's 50-day moving average is $29.57 and its 200-day moving average is $27.80. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $31.72. The company has a debt-to-equity ratio of 3.51, a current ratio of 0.51 and a quick ratio of 0.51.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The company's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. Equities analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.

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