Glenmede Trust Co. NA Trims Stock Position in Gen Digital Inc. $GEN

Key Points

• Glenmede Trust cut its Gen Digital stake by 90.9% in the first quarter, selling 512,656 shares and retaining 51,062 shares worth approximately $961,000. Despite the sale, institutional investors own 81.38% of the company.
• Gen Digital exceeded quarterly expectations, reporting EPS of $0.71 versus the $0.69 consensus and revenue of $1.34 billion versus $1.31 billion expected. The company also raised fiscal 2027 guidance to $2.87–$2.97 in EPS and $5.4–$5.5 billion in revenue.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $29.33. Gen Digital shares opened at $28.10, while the stock carries elevated leverage with a debt-to-equity ratio of 3.07.

Glenmede Trust Co. NA trimmed its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 90.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,062 shares of the company's stock after selling 512,656 shares during the quarter. Glenmede Trust Co. NA's holdings in Gen Digital were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of Gen Digital by 7.4% in the first quarter. Bank of America Corp DE now owns 2,559,425 shares of the company's stock valued at $48,194,000 after purchasing an additional 175,835 shares during the period. Edgestream Partners L.P. grew its position in Gen Digital by 430.8% in the 1st quarter. Edgestream Partners L.P. now owns 58,721 shares of the company's stock valued at $1,106,000 after buying an additional 47,659 shares during the last quarter. Arkadios Wealth Advisors grew its position in Gen Digital by 15.1% in the 1st quarter. Arkadios Wealth Advisors now owns 157,513 shares of the company's stock valued at $2,966,000 after buying an additional 20,626 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Gen Digital by 14.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,376 shares of the company's stock valued at $64,000 after buying an additional 427 shares during the period. Finally, Empowered Funds LLC increased its stake in Gen Digital by 38.8% in the 1st quarter. Empowered Funds LLC now owns 605,308 shares of the company's stock valued at $11,398,000 after buying an additional 169,221 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Gen Digital Stock Up 0.5%

GEN stock opened at $28.10 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07. The company's 50-day moving average price is $25.90 and its 200 day moving average price is $23.29. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22. The company has a market cap of $16.82 billion, a P/E ratio of 17.78 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The company's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. 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. On average, research analysts expect that Gen Digital Inc. will post 2.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GEN. Barclays raised their target price on shares of Gen Digital from $26.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Jefferies Financial Group cut shares of Gen Digital from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Wall Street Zen downgraded shares of Gen Digital from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Weiss Ratings upgraded Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Finally, Argus raised Gen Digital to a "strong-buy" rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.33.

Key Stories Impacting Gen Digital

Here are the key news stories impacting Gen Digital this week:

• Positive Sentiment: Q1 results beat expectations: Gen Digital reported adjusted earnings of $0.71 per share, above the $0.69 consensus estimate and up from $0.64 a year earlier. Revenue increased 6.3% year over year to $1.34 billion, exceeding analysts’ $1.31 billion forecast. Gen Digital Beats Q1 Earnings and Revenue Estimates
• Positive Sentiment: Full-year guidance was raised above consensus: Gen Digital now expects fiscal 2027 earnings of $2.87-$2.97 per share, compared with the $2.83 analyst consensus, and revenue of $5.4-$5.5 billion, versus approximately $5.4 billion expected. The stronger outlook signals continued confidence in demand and earnings growth. Gen Digital Raises Annual Forecast on Strong Cybersecurity Demand
• Positive Sentiment: Near-term forecast also topped expectations: Second-quarter fiscal 2027 EPS guidance of $0.71-$0.73 is above the $0.70 consensus estimate, while revenue guidance of $1.3-$1.4 billion is broadly in line with expectations. Gen Further Accelerates in Q1 FY27 and Raises Full Year Guidance
• Neutral Sentiment: The earnings release showed a 19.46% net margin and 55.47% return on equity, highlighting strong profitability, though Gen Digital continues to operate with elevated leverage.

Insider Activity at Gen Digital

In related news, Director Ondrej Vlcek sold 100,000 shares of Gen Digital stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the completion of the transaction, the director directly owned 3,832,724 shares of the company's stock, valued at approximately $94,974,900.72. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John C. Chrystal bought 3,000 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the transaction, the director owned 31,419 shares of the company's stock, valued at $850,198.14. This represents a 10.56% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 9.70% of the company's stock.

Gen Digital 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.

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