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 the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the director now directly owns 131,666 shares of the company's stock, valued at $6,583,300. The trade was a 4.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Varonis Systems Price Performance

Shares of Varonis Systems stock traded up $0.50 during trading on Friday, hitting $50.64. 966,180 shares of the company were exchanged, compared to its average volume of 1,543,213. 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, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of -58.88 and a beta of 0.76. The firm has a 50 day moving average price of $43.92 and a 200 day moving average price of $44.27.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data 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 quarter in the prior year, the firm earned ($0.03) earnings per share. The company's revenue for the quarter was up 19.6% on a year-over-year basis. On average, equities analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its Board of Directors has authorized a share repurchase program on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Institutional Trading of Varonis Systems

A number of institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted 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 period. Strs Ohio purchased a new stake in Varonis Systems during the 1st quarter worth $380,000. Intech Investment Management LLC boosted its position in Varonis Systems by 24.3% during the 1st quarter. Intech Investment Management LLC now owns 59,923 shares of the technology company's stock worth $2,424,000 after purchasing an additional 11,715 shares during the period. Focus Partners Wealth purchased a new stake in Varonis Systems during the 1st quarter worth $3,973,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Varonis Systems by 11.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 619,257 shares of the technology company's stock worth $25,049,000 after purchasing an additional 64,636 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VRNS shares. Royal Bank of Canada upped their price target on Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Barclays dropped their price target on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Jefferies Financial Group dropped their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Wolfe Research upgraded Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target for the company in a research report on Friday, March 28th. Finally, Wall Street Zen upgraded Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Six investment 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $55.06.

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.