Insider Buying: Varonis Systems (NASDAQ:VRNS) Director Buys $26,105.80 in Stock

Key Points

• Director Rachel Prishkolnik bought 1,015 Varonis shares at an average price of $25.72, spending $26,105.80. The purchase increased her direct stake by 3.08% to 33,953 shares.
• Varonis reported quarterly EPS of $0.09, beating the $0.03 analyst consensus, while revenue of $189.46 million exceeded expectations and rose 17.3% year over year.
• Analysts have a consensus Hold rating, with an average price target of $50.39; 22 analysts rate the stock Hold, four Buy, and one Sell.

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) Director Rachel Prishkolnik purchased 1,015 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were purchased at an average cost of $25.72 per share, for a total transaction of $26,105.80. Following the completion of the acquisition, the director directly owned 33,953 shares of the company's stock, valued at $873,271.16. This represents a 3.08% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Varonis Systems Price Performance

VRNS traded down $0.06 during trading on Thursday, hitting $48.74. The company's stock had a trading volume of 8,298,574 shares, compared to its average volume of 2,726,115. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.02. Varonis Systems, Inc. has a twelve month low of $19.70 and a twelve month high of $50.31. The business's fifty day simple moving average is $47.38 and its 200 day simple moving average is $35.78. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -36.65 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its earnings results on Tuesday, November 3rd. The technology company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.06. Varonis Systems had a negative net margin of 21.38% and a negative return on equity of 21.47%. The business had revenue of $189.46 million during the quarter, compared to analysts' expectations of $186.74 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The company's quarterly revenue was up 17.3% on a year-over-year basis. On average, equities research analysts forecast that Varonis Systems, Inc. will post -0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Varonis Systems

Hedge funds have recently made changes to their positions in the stock. American Capital Management Inc. boosted its stake in shares of Varonis Systems by 54.3% in the 1st quarter. American Capital Management Inc. now owns 2,328,379 shares of the technology company's stock valued at $49,990,000 after buying an additional 819,340 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Varonis Systems in the 2nd quarter valued at $61,262,000. Senvest Management LLC grew its position in shares of Varonis Systems by 406.1% in the 1st quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company's stock valued at $31,109,000 after buying an additional 1,162,651 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Varonis Systems by 218.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,409,487 shares of the technology company's stock worth $30,262,000 after acquiring an additional 966,817 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Varonis Systems during the 2nd quarter worth $30,733,000. Hedge funds and other institutional investors own 95.65% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on VRNS. Royal Bank Of Canada lowered shares of Varonis Systems from an "outperform" rating to a "neutral" rating in a report on Friday, October 16th. Robert W. Baird raised their price target on shares of Varonis Systems from $45.00 to $50.00 and gave the stock a "neutral" rating in a report on Friday, October 16th. Weiss Ratings upgraded shares of Varonis Systems from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, October 23rd. Needham & Company LLC lowered shares of Varonis Systems from a "buy" rating to a "hold" rating in a research report on Friday, October 16th. Finally, Citigroup upped their price objective on Varonis Systems from $45.00 to $49.75 and gave the company a "neutral" rating in a report on Friday, October 16th. Four equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Varonis Systems currently has a consensus rating of "Hold" and an average price target of $50.39.

Varonis Systems Company Profile

Varonis Systems, Inc develops data security software that helps organizations protect sensitive information, identify security risks and manage access to data. Its platform is designed to secure data stored across on-premises file systems, cloud environments, software-as-a-service applications and other enterprise repositories.

The company's products support data discovery and classification, access analysis, threat detection, insider-risk monitoring, data loss prevention and security automation.

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