Jupiter Topco LLC Invests $18.06 Million in Gen Digital Inc. $GEN

Key Points

• Jupiter Topco LLC acquired 725,522 shares of Gen Digital valued at approximately $18.06 million, giving it a 0.12% stake. Institutional investors collectively own 81.38% of the company.
• Gen Digital exceeded quarterly expectations, reporting $0.71 in EPS and $1.34 billion in revenue, with revenue up 6.3% year over year. The company also declared a quarterly dividend of $0.125 per share, equivalent to a 1.6% yield.
• Analysts maintain a consensus “Hold” rating with a $31.67 target price, while insiders sold about 630,260 shares worth $17.97 million over the past 90 days.

Jupiter Topco LLC purchased a new position in Gen Digital Inc. (NASDAQ:GEN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 725,522 shares of the company's stock, valued at approximately $18,057,000. Jupiter Topco LLC owned approximately 0.12% of Gen Digital at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GEN. International Assets Investment Management LLC bought a new stake in Gen Digital during the 4th quarter valued at about $27,000. Grove Bank & Trust lifted its stake in shares of Gen Digital by 452.2% in the second quarter. Grove Bank & Trust now owns 1,132 shares of the company's stock worth $28,000 after buying an additional 927 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of Gen Digital in the second quarter worth approximately $32,000. Weiss Asset Management LP purchased a new stake in shares of Gen Digital during the first quarter valued at approximately $41,000. Finally, TD Private Client Wealth LLC grew its holdings in shares of Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company's stock valued at $42,000 after buying an additional 611 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Gen Digital Stock Up 1.7%

Shares of Gen Digital stock opened at $31.02 on Friday. Gen Digital Inc. has a twelve month low of $17.78 and a twelve month high of $31.29. 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 company's 50 day moving average is $27.06 and its 200 day moving average is $23.81. The company has a market cap of $18.57 billion, a price-to-earnings ratio of 18.03 and a beta of 1.21.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its 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. The business 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 20.73% and a return on equity of 55.93%. The firm's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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. Research analysts anticipate that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, August 17th. Gen Digital's dividend payout ratio is 29.07%.

Analyst Ratings Changes

GEN has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Gen Digital from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Argus raised Gen Digital to a "strong-buy" rating in a report on Friday, May 22nd. Barclays boosted their price target on 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 raised Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada increased their price objective on Gen Digital from $27.00 to $30.00 and gave the company a "sector perform" rating in a research report on Friday, August 7th. One investment 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $31.67.

Insider Activity at Gen Digital

In other Gen Digital news, Director Ondrej Vlcek sold 200,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director directly owned 3,332,904 shares in the company, valued at $99,987,120. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Travis Michael Witteveen sold 30,000 shares of the company'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 sale, the insider directly owned 496,545 shares of the company's stock, valued at $14,608,353.90. The trade was a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 630,260 shares of company stock worth $17,967,726. 9.70% of the stock is owned by insiders.

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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