Varonis Systems (NASDAQ:VRNS) Shares Up 4.1%

Varonis Systems, Inc. (NASDAQ:VRNS) shares shot up 4.1% during mid-day trading on Tuesday . The company traded as high as $44.71 and last traded at $44.67. 595,548 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 1,215,615 shares. The stock had previously closed at $42.93.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VRNS. JMP Securities reiterated a “market outperform” rating and issued a $63.00 price target on shares of Varonis Systems in a report on Monday, February 5th. DA Davidson reiterated a “neutral” rating and set a $45.00 price objective (up from $37.00) on shares of Varonis Systems in a report on Thursday, January 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $56.00 price target on shares of Varonis Systems in a research report on Friday, March 15th. Stephens reaffirmed an “overweight” rating and set a $55.00 price target on shares of Varonis Systems in a research report on Tuesday, February 6th. Finally, Citigroup boosted their target price on shares of Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.81.

Varonis Systems Stock Up 3.9 %

The company has a market capitalization of $4.87 billion, a PE ratio of -46.66 and a beta of 0.85. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $48.53 and its 200 day simple moving average is $42.85.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, February 5th. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The firm had revenue of $154.10 million for the quarter, compared to the consensus estimate of $151.64 million. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. As a group, analysts forecast that Varonis Systems, Inc. will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ofer Segev sold 5,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the completion of the sale, the director now directly owns 75,682 shares of the company’s stock, valued at $3,945,302.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the completion of the transaction, the director now directly owns 19,263 shares in the company, valued at $973,552.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ofer Segev sold 5,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $52.13, for a total value of $260,650.00. Following the completion of the sale, the director now owns 75,682 shares of the company’s stock, valued at $3,945,302.66. The disclosure for this sale can be found here. Insiders sold 372,419 shares of company stock valued at $18,571,413 over the last 90 days. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Varonis Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dark Forest Capital Management LP purchased a new stake in shares of Varonis Systems during the first quarter valued at approximately $26,000. Point72 Hong Kong Ltd purchased a new stake in shares of Varonis Systems during the second quarter valued at approximately $30,000. Quadrant Capital Group LLC increased its position in shares of Varonis Systems by 87.2% during the fourth 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 last quarter. Comerica Bank purchased a new stake in shares of Varonis Systems during the third quarter valued at approximately $43,000. Finally, Captrust Financial Advisors increased its position in Varonis Systems by 35.9% in the first quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock worth $66,000 after buying an additional 366 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

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.