Den Bosch Fred Van Sells 6,000 Shares of Varonis Systems, Inc. (NASDAQ:VRNS) Stock

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) Director Den Bosch Fred Van sold 6,000 shares of Varonis Systems stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the director now owns 131,666 shares of the company's stock, valued at $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 is available at the SEC website.

Varonis Systems Stock Performance

NASDAQ VRNS traded up $0.50 during trading on Friday, reaching $50.64. The company's stock had a trading volume of 966,180 shares, compared to its average volume of 1,535,783. The firm has a 50 day moving average price of $43.72 and a 200 day moving average price of $44.35. Varonis Systems, Inc. has a 12 month low of $36.53 and a 12 month high of $60.58. The firm has a market capitalization of $5.67 billion, a price-to-earnings 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 - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) 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 last year, the company posted ($0.03) earnings per share. The business's revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its Board of Directors has authorized a share repurchase plan on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Varonis Systems

A number of hedge funds and other institutional investors have recently modified their holdings of VRNS. Rhumbline Advisers raised its position in Varonis Systems by 5.7% during the 1st quarter. Rhumbline Advisers now owns 173,984 shares of the technology company's stock worth $7,038,000 after purchasing an additional 9,404 shares during the last quarter. Strs Ohio acquired a new stake in shares of Varonis Systems in the first quarter valued at about $380,000. Intech Investment Management LLC raised its position in shares of Varonis Systems by 24.3% during the first quarter. Intech Investment Management LLC now owns 59,923 shares of the technology company's stock worth $2,424,000 after acquiring an additional 11,715 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Varonis Systems in the first quarter worth approximately $3,973,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Varonis Systems by 11.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 619,257 shares of the technology company's stock valued at $25,049,000 after acquiring an additional 64,636 shares during the last quarter. Institutional investors own 95.65% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays dropped their price target on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Wall Street Zen raised Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Friday, March 28th. Morgan Stanley cut their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $60.00 target price on shares of Varonis Systems in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Varonis Systems currently has an average rating of "Moderate Buy" and an average target price of $55.06.

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.