TEMPE, Ariz.—Bryan Seuk Ko, the Chief Legal Officer and Head of Corporate Affairs at Gen Digital Inc. (NASDAQ:GEN), recently sold a significant portion of the company's stock. The cybersecurity company, currently valued at $19 billion, has seen its shares surge nearly 38% year-to-date. According to a filing with the Securities and Exchange Commission, Ko sold a total of 48,290 shares of Gen Digital common stock on November 26. The sales were executed at a weighted average price of approximately $30.58 per share, amounting to a total transaction value of $1,476,601.
These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, which Ko adopted on August 27, 2024. Following these sales, Ko retains direct ownership of 504,500 shares of Gen Digital stock. According to InvestingPro analysis, Gen Digital maintains a "GREAT" overall financial health score, and the stock is currently trading near its Fair Value.
The sales were carried out in multiple transactions, with share prices ranging from $30.49 to $30.67. Ko remains a significant shareholder in the company, holding a substantial number of shares post-transaction. For detailed insights and additional metrics about Gen Digital's performance, including comprehensive financial health analysis, visit InvestingPro, where you'll find the full Pro Research Report.
In other recent news, cybersecurity company Gen reported solid growth in its second quarter for the fiscal year 2025. The firm revealed a 5% increase in bookings, amounting to $964 million, and a 16% growth in earnings per share (EPS). Total (EPA:TTEF) revenue climbed to $974 million, up by 3%, with Cyber Safety revenue increasing by 4%. Gen also reported a significant growth in its customer base, adding 400,000 direct paying customers to reach a total of 39.7 million. The AI-powered Genie anti-scam product, highlighted by Gen's CEO, Vincent Pilette, achieved over 1.6 million downloads. The company raised its full-year revenue guidance to $3.905 billion to $3.930 billion and EPS guidance to $2.18 to $2.23 per share. These recent developments indicate a positive trajectory for the company, despite challenges such as increased customer acquisition costs and currency fluctuations.
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