Varonis Systems, Inc. (NASDAQ:VRNS) CFO Sells $4,905,226.50 in Stock

Varonis Systems, Inc. (NASDAQ:VRNS) CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the transaction, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Varonis Systems Trading Down 2.2 %

NASDAQ:VRNS opened at $51.08 on Friday. Varonis Systems, Inc. has a 1 year low of $36.87 and a 1 year high of $60.58. The stock’s 50 day simple moving average is $55.20 and its two-hundred day simple moving average is $50.56. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. Varonis Systems’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.22) earnings per share. As a group, analysts anticipate that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Varonis Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EFG Asset Management North America Corp. raised its position in Varonis Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock worth $2,181,000 after acquiring an additional 216 shares during the period. O Neil Global Advisors Inc. lifted its stake in Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after acquiring an additional 220 shares in the last quarter. Hanseatic Management Services Inc. boosted its stake in shares of Varonis Systems by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock valued at $770,000 after purchasing an additional 275 shares during the period. Xponance Inc. boosted its position in Varonis Systems by 5.6% in the 2nd quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after buying an additional 367 shares during the period. Finally, Natixis Advisors LLC grew its stake in Varonis Systems by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock worth $572,000 after purchasing an additional 401 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on VRNS shares. UBS Group raised their price objective on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Robert W. Baird raised their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Finally, TD Cowen upped their target price on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.67.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.