Varonis Systems (NASDAQ:VRNS) Shares Gap Down to $55.05

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) gapped down before the market opened on Thursday . The stock had previously closed at $55.05, but opened at $50.18. Varonis Systems shares last traded at $51.03, with a volume of 540,541 shares.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Piper Sandler raised their price objective on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. JPMorgan Chase & Co. upgraded Varonis Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $50.00 to $54.00 in a research report on Friday, June 14th. Finally, Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.33.

Varonis Systems Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. The stock’s 50-day moving average price is $51.88 and its two-hundred day moving average price is $47.90. The stock has a market capitalization of $5.73 billion, a PE ratio of -54.38 and a beta of 0.81.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The business had revenue of $130.35 million for the quarter, compared to analyst estimates of $124.83 million. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. Varonis Systems’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of Varonis Systems stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the completion of the transaction, the insider now owns 494,114 shares in the company, valued at $25,219,578.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Varonis Systems

Several institutional investors have recently bought and sold shares of VRNS. Quadrant Capital Group LLC lifted its stake in shares of Varonis Systems by 87.2% in the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after buying an additional 429 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Varonis Systems during the 1st quarter valued at $63,000. NBC Securities Inc. bought a new stake in shares of Varonis Systems in the 1st quarter worth $68,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Varonis Systems in the fourth quarter worth $77,000. Finally, Assetmark Inc. purchased a new position in shares of Varonis Systems in the fourth quarter worth $98,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

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.