Gen Digital (NASDAQ:GEN) Shares Down 0.9% – Should You Sell?

Gen Digital Inc. (NASDAQ:GEN)’s share price was down 0.9% during trading on Tuesday . The company traded as low as $22.97 and last traded at $23.50. Approximately 5,348,694 shares were traded during trading, an increase of 36% from the average daily volume of 3,940,172 shares. The stock had previously closed at $23.71.

Analysts Set New Price Targets

Separately, Morgan Stanley assumed coverage on Gen Digital in a research note on Tuesday, March 18th. They issued an “equal weight” rating on the stock.

Gen Digital Stock Down 0.9 %

The stock has a market capitalization of $14.48 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 3.29. The business’s 50-day moving average is $27.07 and its two-hundred day moving average is $27.90.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Thursday, January 30th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. Equities analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Gen Digital during the fourth quarter worth about $14,367,000. GAMMA Investing LLC grew its stake in shares of Gen Digital by 2,954.9% in the 1st quarter. GAMMA Investing LLC now owns 322,169 shares of the company’s stock valued at $8,550,000 after buying an additional 311,623 shares during the period. QSM Asset Management Ltd acquired a new stake in shares of Gen Digital during the 4th quarter worth approximately $5,373,000. Rhumbline Advisers raised its position in shares of Gen Digital by 6.6% during the 1st quarter. Rhumbline Advisers now owns 1,116,301 shares of the company’s stock valued at $29,627,000 after buying an additional 69,558 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Gen Digital by 98.8% in the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock valued at $3,140,000 after acquiring an additional 56,993 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

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.