Varonis Systems (NASDAQ:VRNS) Shares Up 4.1%

Varonis Systems, Inc. (NASDAQ:VRNS) shares shot up 4.1% during mid-day trading on Tuesday . The company traded as high as $44.71 and last traded at $44.67. 595,548 shares were traded during mid-day trading, a decline of 51% from the average session volume of 1,215,615 shares. The stock had previously closed at $42.93.

Analyst Ratings Changes

A number of brokerages have issued reports on VRNS. Citigroup upped their target price on Varonis Systems from $35.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Wedbush raised Varonis Systems from a “neutral” rating to an “outperform” rating and upped their price target for the company from $35.00 to $65.00 in a research report on Tuesday, February 6th. Robert W. Baird upped their price target on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. DA Davidson reissued a “neutral” rating and set a $45.00 price target (up from $37.00) on shares of Varonis Systems in a research report on Thursday, January 18th. Finally, Stephens reissued an “overweight” rating and set a $55.00 price target on shares of Varonis Systems in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Varonis Systems presently has an average rating of “Moderate Buy” and a consensus price target of $48.81.

Varonis Systems Price Performance

The company has a 50 day moving average of $48.34 and a two-hundred day moving average of $42.95. The firm has a market cap of $4.75 billion, a P/E ratio of -47.29 and a beta of 0.85. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.51.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The business had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $151.64 million. Sell-side analysts expect that Varonis Systems, Inc. will post -0.96 EPS for the current year.

Insider Activity at Varonis Systems

In related news, VP Dov Gottlieb sold 43,091 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the completion of the transaction, the vice president now owns 227,654 shares of the company’s stock, valued at $10,931,945.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Dov Gottlieb sold 43,091 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total value of $2,069,229.82. Following the completion of the transaction, the vice president now owns 227,654 shares in the company, valued at approximately $10,931,945.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy Melamed sold 188,503 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.88, for a total value of $9,402,529.64. Following the completion of the sale, the chief financial officer now directly owns 645,876 shares of the company’s stock, valued at $32,216,294.88. The disclosure for this sale can be found here. Insiders sold 372,419 shares of company stock valued at $18,571,413 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Varonis Systems

Several hedge funds have recently bought and sold shares of VRNS. Dark Forest Capital Management LP purchased a new stake in shares of Varonis Systems during the 1st quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new stake in shares of Varonis Systems during the 2nd quarter worth about $30,000. Quadrant Capital Group LLC raised its stake in shares of Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after purchasing an additional 429 shares in the last quarter. Comerica Bank purchased a new stake in shares of Varonis Systems during the 3rd quarter worth about $43,000. Finally, Captrust Financial Advisors raised its stake in shares of Varonis Systems by 35.9% during the 1st quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock worth $66,000 after purchasing an additional 366 shares in the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

About Varonis Systems

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.