Insider Selling: Varonis Systems, Inc. (NASDAQ:VRNS) CFO Sells 42,705 Shares of Stock

Key Points

• Varonis Systems CFO Guy Melamed sold 42,705 shares of the company's stock at an average price of $57.72, totaling approximately $2.46 million, marking a 9.07% reduction in his ownership.
• The company's stock rose by 2.6% to $58.41 following the transaction, with a market capitalization of $6.54 billion and a price-to-earnings ratio of -63.49.
• Analysts have given Varonis Systems a consensus rating of "Moderate Buy" with a target price averaging $58.50, reflecting a positive outlook despite the recent insider sales.

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) CFO Guy Melamed sold 42,705 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $57.72, for a total value of $2,464,932.60. Following the transaction, the chief financial officer owned 427,897 shares of the company's stock, valued at $24,698,214.84. This trade represents a 9.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Guy Melamed also recently made the following trade(s):

• On Friday, August 1st, Guy Melamed sold 51,889 shares of Varonis Systems stock. The stock was sold at an average price of $55.10, for a total transaction of $2,859,083.90.

Varonis Systems Stock Up 2.6%

VRNS stock traded up $1.46 during mid-day trading on Friday, hitting $58.41. The stock had a trading volume of 1,352,020 shares, compared to its average volume of 1,565,493. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.32. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The company has a fifty day moving average of $52.05 and a 200 day moving average of $46.19. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of -63.49 and a beta of 0.71.

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

Institutional Trading of Varonis Systems

Several large investors have recently made changes to their positions in the stock. Sender Co & Partners Inc. bought a new stake in shares of Varonis Systems during the 2nd quarter worth about $1,011,000. Captrust Financial Advisors boosted its stake in Varonis Systems by 40.1% during the 2nd quarter. Captrust Financial Advisors now owns 20,709 shares of the technology company's stock valued at $1,051,000 after purchasing an additional 5,926 shares during the period. Vident Advisory LLC boosted its stake in Varonis Systems by 38.0% during the 2nd quarter. Vident Advisory LLC now owns 263,056 shares of the technology company's stock valued at $13,350,000 after purchasing an additional 72,421 shares during the period. Moore Capital Management LP boosted its stake in Varonis Systems by 402.9% during the 2nd quarter. Moore Capital Management LP now owns 62,821 shares of the technology company's stock valued at $3,188,000 after purchasing an additional 50,330 shares during the period. Finally, Man Group plc boosted its stake in Varonis Systems by 34.2% during the 2nd quarter. Man Group plc now owns 565,709 shares of the technology company's stock valued at $28,710,000 after purchasing an additional 144,175 shares during the period. Institutional investors own 95.65% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company raised Varonis Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $51.00 to $70.00 in a research report on Monday. Jefferies Financial Group raised Varonis Systems from a "hold" rating to a "buy" rating and boosted their target price for the stock from $50.00 to $65.00 in a research report on Thursday, July 24th. Wall Street Zen raised Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Needham & Company LLC boosted their target price on Varonis Systems from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. cut their target price on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.50.

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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