Varonis Systems (NASDAQ:VRNS) Shares Up 4.1%

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) shares traded up 4.1% during mid-day trading on Tuesday . The stock traded as high as $44.71 and last traded at $44.67. 595,548 shares traded hands during trading, a decline of 51% from the average session volume of 1,215,615 shares. The stock had previously closed at $42.93.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JMP Securities reissued a "market outperform" rating and set a $63.00 target price on shares of Varonis Systems in a research note on Monday, February 5th. Wells Fargo & Company boosted their target price on Varonis Systems from $42.00 to $45.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 6th. Royal Bank of Canada reissued an "outperform" rating and set a $56.00 target price on shares of Varonis Systems in a research note on Friday, March 15th. JPMorgan Chase & Co. boosted their target price on Varonis Systems from $49.00 to $50.00 and gave the company a "neutral" rating in a research note on Tuesday, February 6th. Finally, Citigroup boosted their target price on Varonis Systems from $35.00 to $45.00 and gave the company a "neutral" rating in a research note on Wednesday, January 10th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.81.

Varonis Systems Price Performance

The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $48.44 and a two-hundred day moving average price of $42.94. The stock has a market capitalization of $4.80 billion, a P/E ratio of -47.78 and a beta of 0.85.

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

Insider Activity at Varonis Systems

In related news, CFO Guy Melamed sold 188,503 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.88, for a total transaction of $9,402,529.64. Following the sale, the chief financial officer now directly owns 645,876 shares of the company's stock, valued at $32,216,294.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the firm's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the transaction, the director now directly owns 75,682 shares of the company's stock, valued at $3,945,302.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy Melamed sold 188,503 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.88, for a total value of $9,402,529.64. Following the completion of the transaction, the chief financial officer now directly owns 645,876 shares in the company, valued at $32,216,294.88. The disclosure for this sale can be found here. Insiders have sold 372,419 shares of company stock valued at $18,571,413 over the last ninety days. Insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Dark Forest Capital Management LP purchased a new position in Varonis Systems in the first quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new position in shares of Varonis Systems during the 2nd quarter valued at about $30,000. Quadrant Capital Group LLC lifted its position in shares of Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company's stock valued at $42,000 after buying an additional 429 shares in the last quarter. Comerica Bank purchased a new position in shares of Varonis Systems during the 3rd quarter valued at about $43,000. Finally, Captrust Financial Advisors lifted its position in shares of Varonis Systems by 35.9% during the 1st quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company's stock valued at $66,000 after buying an additional 366 shares in the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

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.