Insider Selling: Varonis Systems, Inc. (VRNS) Director Sells $1,966,000.00 in Stock
Varonis Systems, Inc. (NASDAQ:VRNS) Director Gili Iohan sold 50,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $39.32, for a total transaction of $1,966,000.00. Following the completion of the sale, the director now directly owns 59,650 shares of the company’s stock, valued at approximately $2,345,438. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Gili Iohan also recently made the following trade(s):
- On Monday, July 10th, Gili Iohan sold 10,000 shares of Varonis Systems stock. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00.
- On Wednesday, June 21st, Gili Iohan sold 7,618 shares of Varonis Systems stock. The shares were sold at an average price of $37.00, for a total transaction of $281,866.00.
Varonis Systems, Inc. (NASDAQ VRNS) opened at 39.60 on Thursday. The firm’s 50-day moving average is $38.06 and its 200 day moving average is $34.72. Varonis Systems, Inc. has a 52 week low of $24.45 and a 52 week high of $40.00. The stock’s market cap is $1.09 billion.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. Varonis Systems had a negative net margin of 9.03% and a negative return on equity of 20.94%. The company had revenue of $50.20 million during the quarter, compared to the consensus estimate of $47.50 million. During the same quarter in the prior year, the company posted ($0.12) EPS. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, equities research analysts expect that Varonis Systems, Inc. will post $0.09 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Castleark Management LLC acquired a new position in shares of Varonis Systems during the 2nd quarter valued at about $7,861,000. California State Teachers Retirement System increased its stake in shares of Varonis Systems by 61.3% during the 2nd quarter. California State Teachers Retirement System now owns 33,934 shares of the technology company’s stock valued at $1,262,000 after acquiring an additional 12,900 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Varonis Systems by 72.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,081 shares of the technology company’s stock valued at $561,000 after acquiring an additional 6,340 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Varonis Systems during the 2nd quarter valued at about $2,897,000. Finally, Symmetry Peak Management LLC acquired a new position in shares of Varonis Systems during the 2nd quarter valued at about $279,000. 82.41% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $44.00 price objective on shares of Varonis Systems in a report on Monday. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 target price (up previously from $44.00) on shares of Varonis Systems in a research note on Monday. Jefferies Group LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of Varonis Systems in a research note on Thursday, September 7th. Barclays PLC reaffirmed a “hold” rating and set a $45.00 target price on shares of Varonis Systems in a research note on Wednesday, July 19th. Finally, BidaskClub raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $43.20.
About Varonis Systems
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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