Natixis Advisors LLC Buys 269,172 Shares of Gen Digital Inc. (NASDAQ:GEN)

Key Points

• Natixis Advisors LLC increased its stake in Gen Digital Inc. by 232.5% in Q1, owning approximately $10.22 million worth of the stock after purchasing an additional 269,172 shares.
• Gen Digital has received mixed ratings from analysts, with three rated as hold, three as buy, and two as strong buy, while the average price target is $33.60.
• The company reported a quarterly EPS of $0.59, beating estimates, along with a revenue of $1.01 billion, marking a 4.4% year-over-year increase.

Natixis Advisors LLC lifted its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 232.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 384,943 shares of the company's stock after buying an additional 269,172 shares during the quarter. Natixis Advisors LLC owned about 0.06% of Gen Digital worth $10,216,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Gen Digital in the 4th quarter valued at about $14,367,000. QSM Asset Management Ltd acquired a new stake in shares of Gen Digital in the 4th quarter valued at approximately $5,373,000. Brighton Jones LLC boosted its stake in shares of Gen Digital by 5.4% in the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock valued at $690,000 after purchasing an additional 1,299 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Gen Digital by 98.8% in the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock valued at $3,140,000 after purchasing an additional 56,993 shares in the last quarter. Finally, Kera Capital Partners Inc. boosted its stake in shares of Gen Digital by 41.7% in the 1st quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock valued at $313,000 after purchasing an additional 3,466 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. B. Riley assumed coverage on shares of Gen Digital in a research note on Monday, July 14th. They issued a "buy" rating and a $46.00 price target on the stock. Royal Bank Of Canada raised their price target on shares of Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Evercore ISI began coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price target on the stock. Finally, Barclays lifted their target price on shares of Gen Digital from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Three equities research 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.60.

Insider Activity

In other news, Director Nora Denzel sold 31,646 shares of the business's stock in a transaction that occurred on 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 owned 34,860 shares in the company, valued at approximately $1,002,573.60. The trade was a 47.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.30% of the company's stock.

Gen Digital Trading Down 1.4%

NASDAQ:GEN traded down $0.40 during mid-day trading on Tuesday, hitting $28.58. 3,613,226 shares of the company's stock were exchanged, compared to its average volume of 2,980,551. The firm has a market capitalization of $17.60 billion, a P/E ratio of 27.48, a PEG ratio of 1.06 and a beta of 1.00. 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 current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51. The company has a 50 day simple moving average of $29.56 and a 200-day simple moving average of $27.79.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. As a group, research analysts expect that Gen Digital Inc. will post 2.05 earnings per share 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.