Zacks Investment Research downgraded shares of Varonis Systems Inc. (NASDAQ:VRNS) from a buy rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “

Several other research firms also recently weighed in on VRNS. Brean Capital reissued a buy rating on shares of Varonis Systems in a research report on Thursday, September 8th. Imperial Capital restated an outperform rating and set a $35.00 price target on shares of Varonis Systems in a report on Friday, September 9th. RBC Capital Markets restated an outperform rating and set a $32.00 price target (up from $27.00) on shares of Varonis Systems in a report on Thursday, August 11th. Needham & Company LLC upgraded shares of Varonis Systems from a hold rating to a buy rating and set a $34.00 price target for the company in a report on Wednesday, August 10th. Finally, JMP Securities raised their price target on shares of Varonis Systems from $29.00 to $33.00 and gave the stock a market outperform rating in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Varonis Systems has a consensus rating of Buy and an average price target of $31.00.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

Varonis Systems (NASDAQ:VRNS) traded down 1.29% during midday trading on Wednesday, reaching $28.37. 7,422 shares of the company were exchanged. The firm’s 50-day moving average is $29.57 and its 200-day moving average is $24.84. The firm’s market cap is $748.66 million. Varonis Systems has a one year low of $13.25 and a one year high of $30.90.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, August 9th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $38.60 million for the quarter, compared to the consensus estimate of $36.60 million. Varonis Systems had a negative net margin of 13.27% and a negative return on equity of 24.20%. The firm’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.18) earnings per share. On average, equities analysts expect that Varonis Systems will post ($0.34) EPS for the current fiscal year.

In other Varonis Systems news, CEO Yakov Faitelson sold 10,683 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $26.00, for a total value of $277,758.00. Following the sale, the chief executive officer now owns 1,211,347 shares of the company’s stock, valued at approximately $31,495,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Pitango Venture Capital Princi sold 6,793 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $30.45, for a total transaction of $206,846.85. Following the completion of the sale, the insider now directly owns 3,078,341 shares in the company, valued at approximately $93,735,483.45. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Menta Capital LLC raised its stake in shares of Varonis Systems by 5.7% in the first quarter. Menta Capital LLC now owns 20,265 shares of the company’s stock valued at $370,000 after buying an additional 1,100 shares during the period. State Street Corp increased its stake in shares of Varonis Systems by 9.5% in the first quarter. State Street Corp now owns 130,111 shares of the company’s stock valued at $2,375,000 after buying an additional 11,313 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Varonis Systems by 10.3% in the first quarter. Geode Capital Management LLC now owns 99,637 shares of the company’s stock valued at $1,818,000 after buying an additional 9,334 shares in the last quarter. Thrax Management LLC increased its stake in shares of Varonis Systems by 51.4% in the first quarter. Thrax Management LLC now owns 312,753 shares of the company’s stock valued at $5,708,000 after buying an additional 106,220 shares in the last quarter. Finally, Gofen & Glossberg LLC IL purchased a new stake in shares of Varonis Systems during the second quarter valued at approximately $213,000. 41.00% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Company Profile

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.

5 Day Chart for NASDAQ:VRNS

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