Varonis Systems, Inc. (NASDAQ:VRNS) Director Den Bosch Fred Van Sells 3,000 Shares

Key Points

• Varonis Systems Director, Den Bosch Fred Van, sold 3,000 shares at an average price of $55.08, totaling $165,240, which decreased his ownership stake by 2.28%.
• The company experienced a 2.0% drop in stock price, reaching $54.73, as it continues to face market fluctuations.
• Analysts have recently raised their price targets for Varonis Systems, with predictions ranging from $50.00 to $65.00, citing a consensus rating of "Moderate Buy."

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) Director Den Bosch Fred Van sold 3,000 shares of Varonis Systems stock in a transaction on Friday, August 1st. The stock was sold at an average price of $55.08, for a total transaction of $165,240.00. Following the transaction, the director directly owned 128,666 shares in the company, valued at $7,086,923.28. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Den Bosch Fred Van also recently made the following trade(s):

• On Wednesday, June 4th, Den Bosch Fred Van sold 6,000 shares of Varonis Systems stock. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00.

Varonis Systems Stock Down 1.9%

VRNS stock traded down $1.06 during mid-day trading on Tuesday, reaching $55.42. The company had a trading volume of 317,979 shares, compared to its average volume of 1,566,670. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of -60.29 and a beta of 0.71. The firm has a fifty day simple moving average of $50.76 and a 200 day simple moving average of $45.51. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58.

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 business had revenue of $152.16 million for the quarter, compared to analyst estimates of $147.80 million. During the same quarter last year, the company earned $0.05 EPS. The business's quarterly revenue was up 16.7% on a year-over-year basis. Analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VRNS. JPMorgan Chase & Co. lowered their target price on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada increased their price target on shares of Varonis Systems from $58.00 to $64.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Wells Fargo & Company raised their target price on shares of Varonis Systems from $46.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. UBS Group raised their price target on Varonis Systems from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley cut their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.31.

Hedge Funds Weigh In On Varonis Systems

A number of institutional investors have recently made changes to their positions in VRNS. Norges Bank bought a new position in Varonis Systems during the 4th quarter worth approximately $56,561,000. New Age Alpha Advisors LLC acquired a new stake in Varonis Systems during the fourth quarter valued at $70,000. Arrowstreet Capital Limited Partnership boosted its position in Varonis Systems by 28.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 369,317 shares of the technology company's stock valued at $16,409,000 after purchasing an additional 81,343 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Varonis Systems by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 138,977 shares of the technology company's stock valued at $6,175,000 after buying an additional 1,381 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its holdings in Varonis Systems by 43.7% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 47,609 shares of the technology company's stock valued at $2,115,000 after buying an additional 14,471 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

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.