Varonis Systems Inc. (VRNS) Major Shareholder Pitango Venture Capital Fund I Sells 7,701 Shares of Stock
Varonis Systems Inc. (NASDAQ:VRNS) major shareholder Pitango Venture Capital Fund I sold 7,701 shares of the stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $30.01, for a total value of $231,107.01. Following the completion of the transaction, the insider now directly owns 3,102,292 shares in the company, valued at approximately $93,099,782.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of Varonis Systems Inc. (NASDAQ:VRNS) opened at 30.11 on Thursday. The company’s 50 day moving average price is $29.00 and its 200 day moving average price is $24.05. Varonis Systems Inc. has a 52-week low of $13.25 and a 52-week high of $30.63. The stock’s market cap is $794.57 million.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.05. Varonis Systems had a negative return on equity of 24.20% and a negative net margin of 13.27%. The company earned $38.60 million during the quarter, compared to analysts’ expectations of $36.60 million. During the same quarter in the previous year, the firm posted ($0.18) EPS. The firm’s revenue was up 32.2% compared to the same quarter last year. On average, analysts anticipate that Varonis Systems Inc. will post ($0.34) earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. BlackRock Advisors LLC boosted its stake in shares of Varonis Systems by 11.6% in the second quarter. BlackRock Advisors LLC now owns 5,967 shares of the company’s stock worth $143,000 after buying an additional 620 shares in the last quarter. American International Group Inc. boosted its stake in shares of Varonis Systems by 17.4% in the second quarter. American International Group Inc. now owns 6,159 shares of the company’s stock worth $148,000 after buying an additional 913 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Varonis Systems by 21.0% in the second quarter. Nationwide Fund Advisors now owns 6,986 shares of the company’s stock worth $168,000 after buying an additional 1,211 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Varonis Systems during the second quarter worth approximately $178,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in shares of Varonis Systems during the second quarter worth approximately $213,000. 41.00% of the stock is owned by institutional investors.
A number of research firms have weighed in on VRNS. RBC Capital Markets reissued an “outperform” rating and issued a $32.00 target price (up previously from $27.00) on shares of Varonis Systems in a report on Thursday, August 11th. Jefferies Group increased their target price on Varonis Systems from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Imperial Capital increased their target price on Varonis Systems from $27.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, August 11th. Summit Redstone restated a “buy” rating and issued a $30.00 price target on shares of Varonis Systems in a research report on Thursday, June 30th. Finally, Royal Bank Of Canada upped their price target on Varonis Systems from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Varonis Systems currently has an average rating of “Buy” and a consensus price target of $30.08.
About Varonis Systems
Varonis Systems, Inc (Varonis) provides a software platform that allows enterprises to analyze, secure, manage and utilize their unstructured data. The Company specializes in human-generated data, a type of unstructured data that includes an enterprise’s spreadsheets, word processing documents, presentations, audio files, video files, e-mails, text messages and any other data created by employees.
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