Gen Digital (NASDAQ:GEN) Director Ondrej Vlcek Sells 47,462 Shares of Stock

Key Points

• Director Ondrej Vlcek sold 47,462 Gen Digital shares at an average price of $29, generating approximately $1.38 million. He retains 3.69 million shares, and had also sold 100,000 shares each in August and June.
• Gen Digital exceeded quarterly expectations, reporting $0.71 in EPS versus a $0.69 consensus estimate and $1.34 billion in revenue, up 6.3% year over year. The company also declared a quarterly dividend of $0.125 per share, representing a 1.7% yield.
• The stock recently traded at $29.31, while analysts maintained a consensus “Hold” rating with an average price target of $31.67; institutional investors own 81.38% of the company.

Gen Digital Inc. (NASDAQ:GEN - Get Free Report) Director Ondrej Vlcek sold 47,462 shares of Gen Digital stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $29.00, for a total transaction of $1,376,398.00. Following the sale, the director directly owned 3,685,262 shares in the company, valued at $106,872,598. The trade was a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Ondrej Vlcek also recently made the following trade(s):

• On Wednesday, August 19th, Ondrej Vlcek sold 100,000 shares of Gen Digital stock. The stock was sold at an average price of $28.00, for a total transaction of $2,800,000.00.
• On Wednesday, June 10th, Ondrej Vlcek sold 100,000 shares of Gen Digital stock. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00.

Gen Digital Stock Up 0.7%

Gen Digital stock traded up $0.20 during trading hours on Tuesday, hitting $29.31. 6,197,498 shares of the stock traded hands, compared to its average volume of 6,608,867. Gen Digital Inc. has a one year low of $17.78 and a one year high of $31.13. The firm's 50-day moving average price is $26.59 and its two-hundred day moving average price is $23.62. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. The company has a market cap of $17.54 billion, a PE ratio of 17.04 and a beta of 1.21.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company earned $0.64 EPS. The business's revenue was up 6.3% compared to the same quarter last year. 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 forecast that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 17th. Gen Digital's payout ratio is 29.07%.

Institutional Investors Weigh In On Gen Digital

A number of institutional investors have recently made changes to their positions in GEN. California State Teachers Retirement System raised its holdings in Gen Digital by 2,001.9% in the 2nd quarter. California State Teachers Retirement System now owns 18,221,421 shares of the company's stock worth $453,531,000 after acquiring an additional 17,354,503 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Gen Digital in the 2nd quarter worth $225,169,000. Deutsche Bank AG purchased a new position in shares of Gen Digital in the second quarter worth $146,639,000. Bank of New York Mellon Corp purchased a new position in shares of Gen Digital in the second quarter worth $108,421,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Gen Digital by 45.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company's stock valued at $246,567,000 after purchasing an additional 4,115,676 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

GEN has been the subject of a number of recent research reports. Weiss Ratings raised shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Jefferies Financial Group downgraded shares of Gen Digital from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Wall Street Zen lowered shares of Gen Digital from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Royal Bank Of Canada upped their price target on Gen Digital from $27.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company raised their price objective on Gen Digital from $22.00 to $28.00 and gave the company an "equal weight" 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 issued a Hold rating to the stock. According to data from MarketBeat.com, Gen Digital presently has a consensus rating of "Hold" and a consensus target price of $31.67.

Gen Digital Company 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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