Varonis Systems, Inc. (NASDAQ:VRNS) Director Sells $300,000.00 in Stock

Varonis Systems, Inc. (NASDAQ:VRNS) Director Den Bosch Fred Van sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the sale, the director now directly owns 131,666 shares in the company, valued at approximately $6,583,300. The trade was a 4.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Varonis Systems Trading Up 1.0%

Shares of VRNS stock opened at $50.64 on Friday. The business’s 50 day moving average is $43.92 and its two-hundred day moving average is $44.36. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a market capitalization of $5.67 billion, a P/E ratio of -58.88 and a beta of 0.79. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.26). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The company had revenue of $136.42 million for the quarter, compared to analyst estimates of $133.10 million. During the same period in the prior year, the business earned ($0.03) earnings per share. Varonis Systems’s revenue for the quarter was up 19.6% compared to the same quarter last year. Equities analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its board has authorized a share repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Varonis Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of VRNS. KBC Group NV grew its position in Varonis Systems by 45.6% in the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after buying an additional 1,488 shares during the last quarter. Pacer Advisors Inc. grew its position in Varonis Systems by 29.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after buying an additional 603 shares during the last quarter. E. Ohman J or Asset Management AB grew its position in Varonis Systems by 8.6% in the 4th quarter. E. Ohman J or Asset Management AB now owns 31,700 shares of the technology company’s stock valued at $1,408,000 after buying an additional 2,500 shares during the last quarter. WCM Investment Management LLC grew its position in Varonis Systems by 30.8% in the 4th quarter. WCM Investment Management LLC now owns 405,321 shares of the technology company’s stock valued at $17,798,000 after buying an additional 95,531 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new position in Varonis Systems in the 4th quarter valued at $224,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VRNS shares. Wolfe Research raised shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a report on Friday, March 28th. UBS Group raised their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price objective on shares of Varonis Systems from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Wall Street Zen raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 price objective on shares of Varonis Systems in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.06.

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.