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 $46.47 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 $1.06 million.
As published in their initiating research note from Wells Fargo on October 24, 2024, Gen Digital Inc [GEN] has been an Overweight and the price target has been revised to $35. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early June. As of April 11, 2024, Barclays has decreased its “an Overweight” rating to a “an Equal weight” for GEN. Earlier on November 21, 2023, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for GEN stock which previously was a “an Equal-weight”.
Analyzing GEN Stock Performance
During the last five days, there has been a drop of approximately -3.71%. Over the course of the year, Gen Digital Inc shares have jumped approximately 18.40%. 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 $26.65, while a 200-day SMA reached $23.97. Nevertheless, trading volume fell to 3.38 million shares from 2.51 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 26.75, which, if violated, would cause prices to drop to 26.49. In the upper region, resistance lies at 27.43. The next price resistance is at 27.85. RSI (Relative Strength Index) is 48.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.52, which suggests the price will decrease in the coming days. Percent R is at 82.18%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
