Varonis Systems, Inc. (NASDAQ:VRNS) CFO Guy Melamed Sells 91,345 Shares

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

Varonis Systems Trading Down 2.2 %

Shares of NASDAQ:VRNS opened at $51.08 on Friday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The firm’s 50-day simple moving average is $55.20 and its 200-day simple moving average is $50.56. Varonis Systems, Inc. has a fifty-two week low of $36.87 and a fifty-two week high of $60.58.

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

Institutional Investors Weigh In On Varonis Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in Varonis Systems by 1.7% during the 1st quarter. Sei Investments Co. now owns 167,745 shares of the technology company’s stock valued at $7,912,000 after purchasing an additional 2,844 shares in the last quarter. ProShare Advisors LLC grew its holdings in Varonis Systems by 8.1% in the 1st quarter. ProShare Advisors LLC now owns 19,910 shares of the technology company’s stock worth $939,000 after buying an additional 1,493 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Varonis Systems in the first quarter worth $368,000. State Board of Administration of Florida Retirement System grew its position in Varonis Systems by 12.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 34,958 shares of the technology company’s stock valued at $1,649,000 after buying an additional 3,920 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Varonis Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock valued at $530,978,000 after acquiring an additional 155,040 shares during the period. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays lifted their price objective on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Wells Fargo & Company raised their price target on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Truist Financial reiterated a “buy” rating and set a $60.00 target price (up from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.