Varonis Systems, Inc. (NASDAQ:VRNS) Short Interest Update

Key Points

• Varonis Systems experienced a significant decrease in short interest, falling by 39.9% in August, with current short interest totaling 5,760,000 shares, representing 5.3% of its stock.
• Insider trading activity included CFO Guy Melamed selling 51,889 shares and Director Den Bosch Fred Van selling 3,000 shares, indicating a decrease in their positions.
• Wall Street analysts have a positive outlook for Varonis, with fourteen analysts rating it as a Buy and a revised average target price of $61.65 following recent earnings.

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 5,760,000 shares, a decrease of 39.9% from the August 15th total of 9,580,000 shares. Currently, 5.3% of the company's stock are short sold. Based on an average daily trading volume, of 1,500,000 shares, the short-interest ratio is currently 3.8 days. Based on an average daily trading volume, of 1,500,000 shares, the short-interest ratio is currently 3.8 days. Currently, 5.3% of the company's stock are short sold.

Insider Transactions at Varonis Systems

In other news, CFO Guy Melamed sold 51,889 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $55.10, for a total value of $2,859,083.90. Following the sale, the chief financial officer owned 470,602 shares in the company, valued at approximately $25,930,170.20. This represents a 9.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $55.08, for a total transaction of $165,240.00. Following the sale, the director owned 128,666 shares in the company, valued at approximately $7,086,923.28. This trade represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,386 shares of company stock valued at $6,429,405. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Varonis Systems

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its holdings in Varonis Systems by 26.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,084,830 shares of the technology company's stock worth $165,231,000 after buying an additional 848,408 shares in the last quarter. First Trust Advisors LP boosted its holdings in Varonis Systems by 5.5% during the second quarter. First Trust Advisors LP now owns 2,917,391 shares of the technology company's stock worth $148,058,000 after buying an additional 152,477 shares in the last quarter. RGM Capital LLC boosted its holdings in Varonis Systems by 45.5% during the first quarter. RGM Capital LLC now owns 2,706,531 shares of the technology company's stock worth $109,479,000 after buying an additional 846,475 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Varonis Systems by 0.3% during the second quarter. Geode Capital Management LLC now owns 2,670,343 shares of the technology company's stock worth $135,537,000 after buying an additional 7,342 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Varonis Systems by 98.6% during the first quarter. Voya Investment Management LLC now owns 2,321,317 shares of the technology company's stock worth $93,897,000 after buying an additional 1,152,687 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VRNS. Morgan Stanley increased their price objective on shares of Varonis Systems from $59.00 to $66.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. DA Davidson increased their price objective on shares of Varonis Systems from $47.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Barclays increased their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price objective on shares of Varonis Systems in a research note on Tuesday, July 22nd. Finally, B. Riley began coverage on shares of Varonis Systems in a research note on Tuesday, August 26th. They set a "buy" rating and a $80.00 price objective on the stock. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Varonis Systems has an average rating of "Moderate Buy" and an average target price of $61.65.

Varonis Systems Trading Down 1.7%

Varonis Systems stock opened at $56.20 on Monday. The stock has a market capitalization of $6.30 billion, a PE ratio of -61.09 and a beta of 0.67. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a 50 day simple moving average of $55.23 and a 200-day simple moving average of $48.29.

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 analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $152.16 million during the quarter, compared to analysts' expectations of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. As a group, equities research analysts expect that Varonis Systems will post -0.83 EPS for the current fiscal year.

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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