Guy Melamed Sells 51,889 Shares of Varonis Systems, Inc. (NASDAQ:VRNS) 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 that occurred on Friday, August 1st. The stock was sold at an average price of $55.10, for a total value of $2,859,083.90. Following the transaction, the chief financial officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Varonis Systems Trading Down 2.0%

NASDAQ VRNS traded down $1.10 on Friday, hitting $54.73. 2,070,121 shares of the company were exchanged, compared to its average volume of 1,689,729. The company's 50 day moving average price is $50.60 and its 200-day moving average price is $45.45. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.15. The firm has a market capitalization of $6.13 billion, a P/E ratio of -59.49 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.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. raised its position 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 valued at $25,000 after acquiring an additional 317 shares during the last quarter. Quarry LP acquired a new position in Varonis Systems in the 4th quarter valued at $36,000. Johnson Financial Group Inc. acquired a new position in Varonis Systems in the fourth quarter valued at about $61,000. Transce3nd LLC acquired a new stake in shares of Varonis Systems during the fourth quarter valued at about $62,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Varonis Systems in the 4th quarter valued at $70,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VRNS has been the topic of several research analyst reports. DA Davidson raised their target price on Varonis Systems from $47.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday. UBS Group lifted their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday. Morgan Stanley reduced their price objective on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald restated an "overweight" rating and set a $60.00 target price on shares of Varonis Systems in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada raised their price objective on shares of Varonis Systems from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and an average price target 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.

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