Coastal Bridge Advisors LLC bought a new stake in Gen Digital Inc. (NASDAQ:GEN – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 69,628 shares of the company’s stock, valued at approximately $1,733,000.
A number of other institutional investors have also bought and sold shares of GEN. Goldman Sachs Group Inc. raised its position in shares of Gen Digital by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock worth $71,757,000 after acquiring an additional 28,522 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Gen Digital during the 1st quarter valued at about $205,000. Woodline Partners LP grew its stake in Gen Digital by 37.8% during the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock worth $732,000 after purchasing an additional 7,562 shares during the period. Focus Partners Wealth grew its stake in Gen Digital by 9.7% during the first quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock worth $593,000 after purchasing an additional 1,980 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Gen Digital by 221.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after purchasing an additional 1,183 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.
Gen Digital Stock Up 2.9%
Shares of NASDAQ:GEN opened at $30.50 on Friday. The business’s 50 day simple moving average is $26.92 and its two-hundred day simple moving average is $23.76. The firm has a market cap of $18.26 billion, a P/E ratio of 17.73 and a beta of 1.21. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $30.93.
Gen Digital Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 annualized dividend and a yield of 1.6%. Gen Digital’s dividend payout ratio (DPR) is presently 29.07%.
Insider Buying and Selling at Gen Digital
In other Gen Digital news, Director John C. Chrystal purchased 3,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the purchase, the director owned 31,419 shares of the company’s stock, valued at $850,198.14. This trade represents a 10.56% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Travis Michael Witteveen sold 30,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.42, for a total transaction of $882,600.00. Following the transaction, the insider owned 496,545 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 430,260 shares of company stock worth $11,967,726. 9.70% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Royal Bank Of Canada boosted their price target on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Barclays raised their price objective on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Wells Fargo & Company boosted their target price on shares of Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Argus raised shares of 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’s stock. Based on data from MarketBeat.com, Gen Digital has a consensus rating of “Hold” and a consensus target price of $31.67.
Get Our Latest Report on Gen Digital
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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