The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Gen Digital Inc shares valued at $8,519,436 were sold by Feld Peter A on May 15 ’24. At $24.89 per share, Feld Peter A sold 342,300 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Feld Peter A sold 750,000 shares, netting a total of over 18,326,925 in proceeds. Following the sale of shares at $24.44 each, the insider now holds 39,182 shares.
Before that, DERSE NATALIE MARIE had sold 169,535 shares from its account. In a trade valued at $4,121,396, the CFO traded Gen Digital Inc shares for $24.31 each. Upon closing the transaction, the insider’s holdings decreased to 169,535 shares, worth approximately $8.23 million.
As published in a research note from Barclays on April 11, 2024, Gen Digital Inc [GEN] has been rated down from an Overweight to an Equal weight and the price target has been revised to $25 from $28. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in late November. As of November 16, 2023, BofA Securities has initiated its “Buy” rating for GEN. Earlier on May 19, 2023, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for GEN stock.
Analyzing GEN Stock Performance
During the last five days, there has been a drop of approximately -2.91%. Over the course of the year, Gen Digital Inc shares have jumped approximately 8.11%. Shares of the company reached a 52-week high of $25.47 on 05/16/24 and a 52-week low of $19.08 on 02/02/24. A 50-day SMA is recorded $21.84, while a 200-day SMA reached $20.92. Nevertheless, trading volume fell to 4.94 million shares from 5.39 million shares the previous day.
Support And Resistance Levels for Gen Digital Inc (GEN)
According to the 24-hour chart, there is a support level at 24.48, which, if violated, would cause prices to drop to 24.28. In the upper region, resistance lies at 24.95. The next price resistance is at 25.23. RSI (Relative Strength Index) is 66.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.57, which suggests the price will increase in the coming days. Percent R is at 13.72%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
