Andra AP Fonden Raises Gen Digital Stake 13.8%, Argus Cuts Target to $32
Andra AP fonden lifted its Gen Digital stake by 13.8% to 1.46 million shares after acquiring 177,300 additional shares in Q3. Argus Research trimmed its price target to $32 from $35 while maintaining a Buy rating and highlighted 54.3% upside after Gen Digital’s Vercel partnership for independent AI safety checks.
1. Institutional Stake Increase
Andra AP fonden boosted its holding in Gen Digital by 13.8% during the third quarter, acquiring 177,300 shares to reach a total stake of 1.4596 million shares, signaling confidence from a major European pension investor.
2. Price Target Revision
Argus Research reduced its Gen Digital price target from $35 to $32 while retaining a Buy rating, pointing to broader tech selloff impacts and deeming concerns over AI agent threats to cybersecurity software as overstated; the firm projects 54.3% share upside.
3. Vercel Partnership
On February 17, Gen Digital partnered with Vercel to introduce independent safety checks on skills.sh, the popular directory for modular AI agent packages, aiming to strengthen security standards for developers leveraging its cybersecurity solutions.