Commerce Bank acquired a new position in shares of Gen Digital Inc. (NASDAQ:GEN – Free Report) during the second quarter, Holdings Channel.com reports. The fund acquired 34,405 shares of the company’s stock, valued at approximately $856,000.
Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Gen Digital by 1.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock valued at $71,757,000 after buying an additional 28,522 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Gen Digital in the first quarter worth about $205,000. Woodline Partners LP boosted its position in shares of Gen Digital by 37.8% in the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock valued at $732,000 after acquiring an additional 7,562 shares during the period. Focus Partners Wealth boosted its position in shares of Gen Digital by 9.7% in the first quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock valued at $593,000 after acquiring an additional 1,980 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Gen Digital by 221.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after acquiring an additional 1,183 shares during the period. Institutional investors own 81.38% of the company’s stock.
Insiders Place Their Bets
In other news, insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the transaction, the insider owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This represents a 5.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ondrej Vlcek sold 100,000 shares of the 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 in the company, valued at $94,974,900.72. The trade was a 2.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 277,902 shares of company stock valued at $7,549,344 in the last quarter. Corporate insiders own 9.70% of the company’s stock.
Gen Digital Stock Performance
Gen Digital (NASDAQ:GEN – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.Gen Digital’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. 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. As a group, equities analysts forecast that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.
Gen Digital Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s payout ratio is currently 29.07%.
Analyst Upgrades and Downgrades
GEN has been the topic of a number of analyst reports. Royal Bank Of Canada upped their target price on shares of Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Wells Fargo & Company upped their price target on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Gen Digital has a consensus rating of “Hold” and a consensus target price of $31.67.
Read Our Latest Analysis on GEN
About Gen Digital
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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