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 $4,565,862 were sold by Pilette Vincent on Aug 19 ’24. At $25.54 per share, Pilette Vincent sold 178,801 shares. The insider’s holdings dropped to 1,719,658 shares worth approximately $48.25 million following the completion of this transaction.
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Also, Pilette Vincent purchased 178,801 shares, netting a total of over 4,510,185 in proceeds.
Before that, Feld Peter A had sold 750,000 shares from its account. In a trade valued at $18,326,925, the Director traded Gen Digital Inc shares for $24.44 each. Upon closing the transaction, the insider’s holdings decreased to 750,000 shares, worth approximately $1.1 million.
As published in a research note from Morgan Stanley on June 07, 2024, Gen Digital Inc [GEN] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $27 from $28. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid April. As of November 21, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for GEN. Earlier on November 16, 2023, BofA Securities initiated its rating. Their recommendation was “a Buy” for GEN stock.
Analyzing GEN Stock Performance
During the last five days, there has been a surge of approximately 1.30%. Over the course of the year, Gen Digital Inc shares have jumped approximately 22.96%. Shares of the company reached a 52-week high of $28.45 on 10/15/24 and a 52-week low of $19.08 on 02/02/24. A 50-day SMA is recorded $26.44, while a 200-day SMA reached $23.86. Nevertheless, trading volume fell to 4.04 million shares from 1.76 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 27.89, which, if violated, would cause prices to drop to 27.73. In the upper region, resistance lies at 28.26. The next price resistance is at 28.47. RSI (Relative Strength Index) is 66.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.53, which suggests the price will decrease in the coming days. Percent R is at 22.94%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
