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 company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 131,666 shares in the company, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Varonis Systems Stock Up 1.0%

NASDAQ VRNS opened at $50.64 on Friday. The stock has a market cap of $5.67 billion, a PE ratio of -58.88 and a beta of 0.79. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The business has a 50 day moving average price of $43.92 and a two-hundred day moving average price of $44.36. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99.

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

Varonis Systems declared that its board has authorized a share buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on VRNS. JPMorgan Chase & Co. dropped their price objective on shares of Varonis Systems from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Morgan Stanley dropped their target price on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada increased their target price on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Wolfe Research raised shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Friday, March 28th. Finally, Jefferies Financial Group dropped their target price on shares of Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.06.

Hedge Funds Weigh In On Varonis Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new position in shares of Varonis Systems during the 4th quarter valued at approximately $36,000. Johnson Financial Group Inc. purchased a new position in shares of Varonis Systems during the 4th quarter valued at approximately $61,000. Transce3nd LLC purchased a new position in shares of Varonis Systems during the 4th quarter valued at approximately $62,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Varonis Systems during the 1st quarter valued at approximately $69,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Varonis Systems during the 4th quarter valued at approximately $70,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

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.