Gen Digital Inc. (NASDAQ:GEN), a leader in prepackaged software services, recently reported a significant stock transaction involving its Chief Financial Officer, Natalie Marie Derse. In a recent move, Derse sold a total of 169,535 shares of common stock, yielding a transaction total of over $4.1 million.
The shares were sold at a weighted average price of $24.31, with individual transactions occurring at prices ranging from $24.18 to $24.50. Following these sales, Derse's remaining stake in the company totals 333,668 shares of Gen Digital Inc.'s common stock.
The transactions took place on May 14, 2024, as disclosed in a regulatory filing with the Securities and Exchange Commission. The filing indicated that the prices mentioned were weighted averages, and Derse is prepared to provide detailed information regarding the number of shares sold at each price point within the given range upon request.
Gen Digital, formerly known as NortonLifeLock (NASDAQ:GEN) Inc. and Symantec Corp before that, is headquartered in Tempe, Arizona, and is incorporated in Delaware. The company is known for its software solutions and has a significant presence in the technology sector.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. The sale by Gen Digital's CFO will likely be of interest to current and potential shareholders as they evaluate their investment in the company.
InvestingPro Insights
As Gen Digital Inc. (NASDAQ:GEN) navigates through the software services landscape, the recent insider transactions by CFO Natalie Marie Derse have caught the attention of investors. To provide a broader context to these transactions, we turn to InvestingPro for a deeper financial analysis of the company. With a robust Market Cap of $16.18 billion, Gen Digital showcases its substantial presence in the market.
The company's financial health can be further assessed through key metrics such as the P/E Ratio, which currently stands at 26.28, and an adjusted figure of 24.53 for the last twelve months as of Q4 2024. This indicates a valuation that investors may consider when weighing the CFO's recent stock sales. Additionally, the Revenue Growth of 14.2% in the same period demonstrates the company's ability to increase its earnings, which could be a reassuring sign for stakeholders.
InvestingPro Tips highlight that the company's Gross Profit Margin is at a strong 80.82%, suggesting efficient control over costs relative to its revenue. Furthermore, the Return on Assets sits at 3.88%, providing a snapshot of how effectively the company is utilizing its assets to generate profits.
For investors seeking more comprehensive insights, InvestingPro offers additional tips on Gen Digital's financial outlook and performance. By using the coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a total of 7 InvestingPro Tips that could further inform investment decisions.
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