Varonis Systems (NASDAQ:VRNS) Trading 4.2% Higher

Varonis Systems, Inc. (NASDAQ:VRNS) was up 4.2% during trading on Thursday . The company traded as high as $45.26 and last traded at $45.26. Approximately 174,578 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,220,639 shares. The stock had previously closed at $43.45.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VRNS shares. Needham & Company LLC reissued a “hold” rating on shares of Varonis Systems in a research note on Monday, May 13th. Truist Financial reaffirmed a “buy” rating and set a $55.00 price objective (up from $50.00) on shares of Varonis Systems in a research report on Wednesday, March 13th. Royal Bank of Canada increased their price objective on Varonis Systems from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Robert W. Baird increased their price objective on Varonis Systems from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. raised Varonis Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $50.00 to $54.00 in a research report on Friday, June 14th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Varonis Systems has an average rating of “Moderate Buy” and a consensus target price of $49.31.

Varonis Systems Stock Performance

The firm has a 50 day moving average of $43.81 and a 200-day moving average of $45.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.38 and a current ratio of 2.38.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, May 6th. The technology company reported ($0.37) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.37). The company had revenue of $114.02 million for the quarter, compared to the consensus estimate of $113.81 million. Varonis Systems had a negative return on equity of 21.33% and a negative net margin of 20.38%. On average, equities analysts expect that Varonis Systems, Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, CEO Yakov Faitelson sold 284,211 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $45.23, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Varonis Systems

A number of institutional investors and hedge funds have recently modified their holdings of VRNS. Quadrant Capital Group LLC boosted its holdings in 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 acquiring an additional 429 shares during the period. Fidelis Capital Partners LLC purchased a new position in Varonis Systems during the 1st quarter valued at $63,000. NBC Securities Inc. purchased a new position in Varonis Systems during the 1st quarter valued at $68,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Varonis Systems during the 4th quarter valued at $77,000. Finally, International Assets Investment Management LLC boosted its holdings in Varonis Systems by 1,779.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after acquiring an additional 1,886 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

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.