Varonis Systems (NASDAQ:VRNS) CFO Sells $89,385.00 in Stock

Key Points

• Guy Melamed, CFO of Varonis Systems, sold 1,500 shares of the company stock for a total of $89,385.00, reducing his ownership by 0.36% to approximately 412,105 shares worth about $24.56 million.
• Varonis Systems reported a quarterly earnings of $0.03 EPS, exceeding estimates, with a revenue of $152.16 million, a 16.7% increase year-over-year.
• Analysts have set an average target price of $61.65 for Varonis Systems, with 14 analysts rating it as a Buy and 3 as a Hold.

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) CFO Guy Melamed sold 1,500 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $59.59, for a total transaction of $89,385.00. Following the completion of the transaction, the chief financial officer directly owned 412,105 shares of the company's stock, valued at approximately $24,557,336.95. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, August 28th, Guy Melamed sold 3,892 shares of Varonis Systems stock. The shares were sold at an average price of $59.52, for a total transaction of $231,651.84.
• On Friday, August 22nd, Guy Melamed sold 10,400 shares of Varonis Systems stock. The shares were sold at an average price of $59.53, for a total transaction of $619,112.00.
• On Wednesday, August 13th, Guy Melamed sold 42,705 shares of Varonis Systems stock. The shares were sold at an average price of $57.72, for a total transaction of $2,464,932.60.
• On Friday, August 1st, Guy Melamed sold 51,889 shares of Varonis Systems stock. The shares were sold at an average price of $55.10, for a total transaction of $2,859,083.90.

Varonis Systems Price Performance

Varonis Systems stock traded down $2.18 during mid-day trading on Tuesday, reaching $56.84. The company had a trading volume of 1,919,312 shares, compared to its average volume of 1,298,625. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year 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 company has a market capitalization of $6.37 billion, a P/E ratio of -61.78 and a beta of 0.67. The stock's 50-day simple moving average is $54.28 and its 200-day simple moving average is $47.51.

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

Hedge Funds Weigh In On Varonis Systems

Hedge funds have recently made changes to their positions in the stock. Brown Advisory Inc. acquired a new position in shares of Varonis Systems in the 1st quarter valued at $346,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Varonis Systems by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,465 shares of the technology company's stock valued at $352,000 after purchasing an additional 1,323 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of Varonis Systems by 14.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company's stock valued at $64,904,000 after purchasing an additional 205,781 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Varonis Systems by 52.2% in the 1st quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock valued at $62,376,000 after purchasing an additional 529,182 shares during the last quarter. Finally, Legacy Advisors LLC raised its stake in shares of Varonis Systems by 164.5% in the 1st quarter. Legacy Advisors LLC now owns 21,090 shares of the technology company's stock valued at $853,000 after acquiring an additional 13,115 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup increased their price target on shares of Varonis Systems from $51.00 to $58.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. Needham & Company LLC increased their price target on shares of Varonis Systems from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Susquehanna increased their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. DA Davidson increased their price target on shares of Varonis Systems from $47.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird increased their price target on shares of Varonis Systems from $58.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $61.65.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.