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

Jupiter Topco LLC acquired a new position in Gen Digital Inc. (NASDAQ:GEN) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 725,522 shares of the company’s stock, valued at approximately $18,057,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Gen Digital during the fourth quarter valued at about $27,000. Grove Bank & Trust raised 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 during the period. Trust Co. of Vermont bought a new position in shares of Gen Digital in the second quarter worth about $32,000. Weiss Asset Management LP purchased a new position in shares of Gen Digital during the 1st quarter valued at about $41,000. Finally, TD Private Client Wealth LLC lifted its position in shares of Gen Digital by 65.8% during the 4th 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 in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Gen Digital Price Performance

Shares of NASDAQ:GEN opened at $31.02 on Friday. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 18.03 and a beta of 1.21. The firm has a fifty day moving average price of $27.06 and a 200 day moving average price of $23.81. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $31.29. 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 (NASDAQ:GEN) last issued 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. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $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, sell-side analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio is 29.07%.

Analysts Set New Price Targets

Several research firms recently issued reports on GEN. Argus raised shares of Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Royal Bank Of Canada lifted their price target on shares of Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a 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 report on Wednesday, July 15th. Wells Fargo & Company increased their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Finally, Barclays raised their price objective on shares of Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.67.

Insider Activity

In other news, insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 496,545 shares in the company, valued at approximately $14,608,353.90. This represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ondrej Vlcek sold 200,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the director directly owned 3,332,904 shares of the company’s stock, valued at approximately $99,987,120. This trade represents a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 630,260 shares of company stock worth $17,967,726. 9.70% of the stock is currently owned by insiders.

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.