FMR LLC Discloses 5.488% Stake in Gen Digital Inc.
Ticker: GENVR · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 849399
| Field | Detail |
|---|---|
| Company | Gen Digital Inc. (GENVR) |
| Form Type | SC 13G |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, SC-13G, insider-holding
TL;DR
**FMR LLC just revealed a 5.488% stake in Gen Digital, a big vote of confidence.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have reported a 5.488% beneficial ownership stake in Gen Digital Inc. (formerly NortonLifeLock Inc.), totaling 35,165,773 shares of common stock. This filing, dated February 9, 2024, indicates that FMR LLC is a significant institutional holder, which can signal confidence in the company's future. For investors, this matters because large institutional ownership can provide stability and potentially attract other investors, but it also means a substantial block of shares is controlled by a single entity.
Why It Matters
This filing shows a major institutional investor, FMR LLC, holds a significant stake in Gen Digital, which can influence stock stability and investor perception.
Risk Assessment
Risk Level: low — This filing indicates a significant institutional investment, which generally adds stability and reduces risk for the stock.
Analyst Insight
A smart investor would view this as a positive signal, indicating institutional confidence in Gen Digital Inc., and might consider further research into the company's fundamentals.
Key Numbers
- 35,165,773 — Shares Beneficially Owned (Total common stock shares of Gen Digital Inc. held by FMR LLC and Abigail P. Johnson.)
- 5.488% — Percent of Class (The percentage of Gen Digital Inc.'s common stock class beneficially owned by FMR LLC and Abigail P. Johnson.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
- Gen Digital Inc. (company) — subject company, issuer of common stock
- NortonLifeLock Inc. (company) — former name of Gen Digital Inc.
- SYMANTEC CORP (company) — former name of Gen Digital Inc.
- 06 Technology (company) — organization name associated with Gen Digital Inc.
- 35,165,773 (dollar_amount) — amount of shares beneficially owned
- 5.488% (dollar_amount) — percentage of class beneficially owned
Forward-Looking Statements
- FMR LLC will maintain or increase its stake in Gen Digital Inc. (FMR LLC) — medium confidence, target: next 12 months
FAQ
Who are the reporting persons in this SC 13G filing?
The reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for both entities.
What is the total number of shares of Gen Digital Inc. common stock beneficially owned by FMR LLC and Abigail P. Johnson?
FMR LLC and Abigail P. Johnson each beneficially own 35,165,773 shares of Gen Digital Inc. common stock, as indicated in Item 7 and Item 9 for both reporting persons.
What percentage of Gen Digital Inc.'s common stock class do the reporting persons beneficially own?
Both FMR LLC and Abigail P. Johnson beneficially own 5.488% of the class of Gen Digital Inc. common stock, as stated in Item 11 for both reporting persons.
What is the CUSIP number for Gen Digital Inc. common stock?
The CUSIP number for Gen Digital Inc. common stock is 668771108, as listed under 'Cusip #668771108' in the filing.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box '[x] Rule 13d-1(b)' in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding Gen Digital Inc. (GENVR).