Insider Selling: Varonis Systems, Inc. (NASDAQ:VRNS) Vice Chairman Sells $3,828,000.00 in Stock

Varonis Systems, Inc. (NASDAQ:VRNS) Vice Chairman James O’boyle sold 75,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00. Following the transaction, the insider now directly owns 494,114 shares in the company, valued at $25,219,578.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Varonis Systems Stock Up 1.9 %

NASDAQ VRNS opened at $54.77 on Friday. The firm has a 50-day simple moving average of $47.01 and a 200 day simple moving average of $46.80. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. The stock has a market cap of $6.14 billion, a PE ratio of -58.27 and a beta of 0.82. Varonis Systems, Inc. has a twelve month low of $29.25 and a twelve month high of $57.00.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The firm had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. During the same quarter last year, the company earned ($0.35) earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler upped their target price on Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Robert W. Baird upgraded shares of Varonis Systems from a “neutral” rating to an “outperform” rating and upped their price target for the company from $52.00 to $60.00 in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their target price on Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Baird R W raised shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upgraded shares of Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $50.00 to $54.00 in a research note on Friday, June 14th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.33.

Institutional Trading of Varonis Systems

Large investors have recently made changes to their positions in the business. EFG Asset Management North America Corp. grew its stake in shares of 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 valued at $2,181,000 after purchasing an additional 216 shares during the last quarter. O Neil Global Advisors Inc. increased its stake in Varonis Systems by 4.8% in the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after purchasing an additional 220 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in Varonis Systems by 1.7% during the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock worth $770,000 after buying an additional 275 shares during the period. Natixis Advisors L.P. raised its position in shares of Varonis Systems by 3.7% during the fourth quarter. Natixis Advisors L.P. now owns 10,441 shares of the technology company’s stock worth $472,000 after purchasing an additional 370 shares during the period. Finally, Natixis Advisors LLC raised its holdings 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 buying an additional 401 shares during the period. Institutional investors own 95.65% of the company’s stock.

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.