Varonis Systems, Inc. (NASDAQ:VRNS) CEO Yakov Faitelson Sells 284,211 Shares

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) CEO Yakov Faitelson sold 284,211 shares of the firm's stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $45.23, for a total value of $12,854,863.53. Following the completion of the transaction, the chief executive officer now owns 1,452,922 shares in the company, valued at approximately $65,715,662.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS traded down $0.68 during midday trading on Friday, hitting $44.51. 903,220 shares of the stock were exchanged, compared to its average volume of 1,187,488. The stock has a market cap of $4.97 billion, a P/E ratio of -47.35 and a beta of 0.84. Varonis Systems, Inc. has a twelve month low of $23.09 and a twelve month high of $52.88. The company has a 50 day moving average price of $46.64 and a 200-day moving average price of $44.34. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.51.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. Varonis Systems had a negative net margin of 20.22% and a negative return on equity of 20.04%. The business had revenue of $154.10 million for the quarter, compared to analyst estimates of $151.64 million. On average, research analysts forecast that Varonis Systems, Inc. will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On Varonis Systems

Several hedge funds have recently modified their holdings of VRNS. Strs Ohio boosted its stake in Varonis Systems by 45.8% in the 3rd quarter. Strs Ohio now owns 7,000 shares of the technology company's stock worth $213,000 after buying an additional 2,200 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Varonis Systems during the 3rd quarter worth about $5,757,000. Y.D. More Investments Ltd lifted its holdings in shares of Varonis Systems by 9.6% during the 3rd quarter. Y.D. More Investments Ltd now owns 15,356 shares of the technology company's stock worth $485,000 after acquiring an additional 1,341 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Varonis Systems by 4.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 8,502 shares of the technology company's stock worth $260,000 after acquiring an additional 356 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Varonis Systems by 11.2% during the 3rd quarter. California Public Employees Retirement System now owns 199,139 shares of the technology company's stock worth $6,082,000 after acquiring an additional 20,058 shares during the period. 95.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company raised their price objective on Varonis Systems from $42.00 to $45.00 and gave the company an "equal weight" rating in a report on Tuesday, February 6th. DA Davidson restated a "neutral" rating and issued a $45.00 price target (up from $37.00) on shares of Varonis Systems in a research note on Thursday, January 18th. Piper Sandler upped their target price on shares of Varonis Systems from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Tuesday, February 6th. Royal Bank of Canada boosted their target price on Varonis Systems from $56.00 to $58.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Truist Financial reissued a "buy" rating and issued a $55.00 target price (up previously from $50.00) on shares of Varonis Systems in a report on Wednesday, March 13th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Varonis Systems currently has an average rating of "Moderate Buy" and a consensus target price of $49.06.

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.

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