Varonis Systems, Inc. (NASDAQ:VRNS) CFO Sells $2,859,083.90 in Stock

Key Points

• Guy Melamed, CFO of Varonis Systems, Inc., sold 51,889 shares at an average price of $55.10, reducing his ownership by 9.93% to a total of 470,602 shares.
• Varonis reported $0.03 EPS in its latest quarterly earnings, exceeding the consensus estimate, with a 16.7% year-over-year revenue increase to $152.16 million.
• Analysts have mixed opinions on Varonis, with ratings ranging from "buy" to "neutral," highlighting a target price increase from firms such as UBS Group from $60.00 to $65.00.

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) CFO Guy Melamed sold 51,889 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the transaction, the chief financial officer owned 470,602 shares of the company's stock, valued at approximately $25,930,170.20. The trade was a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Varonis Systems Stock Down 1.9%

VRNS traded down $1.06 during trading on Tuesday, reaching $55.42. 317,979 shares of the stock were exchanged, compared to its average volume of 1,566,670. The stock has a market cap of $6.21 billion, a P/E ratio of -60.29 and a beta of 0.71. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The stock's 50 day moving average price is $50.76 and its two-hundred day moving average price is $45.51. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The company had revenue of $152.16 million during the quarter, compared to analysts' expectations of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. Varonis Systems's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 earnings per share. Equities analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP increased its position in Varonis Systems by 31.8% during the 1st quarter. Quarry LP now owns 1,082 shares of the technology company's stock valued at $44,000 after purchasing an additional 261 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of Varonis Systems by 0.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 85,255 shares of the technology company's stock worth $3,449,000 after purchasing an additional 284 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Varonis Systems by 7.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company's stock valued at $193,000 after buying an additional 298 shares during the last quarter. Teza Capital Management LLC raised its position in Varonis Systems by 3.1% in the 4th quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company's stock valued at $437,000 after buying an additional 299 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Varonis Systems by 179.1% during the 2nd quarter. Bessemer Group Inc. now owns 494 shares of the technology company's stock worth $25,000 after purchasing an additional 317 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

Wall Street Analysts Forecast Growth

VRNS has been the topic of several analyst reports. DA Davidson boosted their price target on shares of Varonis Systems from $47.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Jefferies Financial Group upgraded shares of Varonis Systems from a "hold" rating to a "buy" rating and upped their price target for the stock from $50.00 to $65.00 in a research report on Thursday, July 24th. Robert W. Baird upped their target price on shares of Varonis Systems from $58.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Wells Fargo & Company increased their price target on shares of Varonis Systems from $46.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Finally, Barclays increased their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.31.

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.