Varonis Systems, Inc. (NASDAQ:VRNS) Vice Chairman Sells $2,988,000.00 in Stock

Varonis Systems, Inc. (NASDAQ:VRNS) Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the sale, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

James O’boyle also recently made the following trade(s):

• On Tuesday, August 6th, James O’boyle sold 75,000 shares of Varonis Systems stock. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $58.97 on Thursday. Varonis Systems, Inc. has a fifty-two week low of $30.89 and a fifty-two week high of $60.58. The stock’s 50-day moving average is $55.68 and its two-hundred day moving average is $49.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44. The firm has a market cap of $6.58 billion, a P/E ratio of -62.73 and a beta of 0.82.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VRNS. Inspire Advisors LLC acquired a new position in Varonis Systems during the first quarter worth $716,000. Seven Eight Capital LP acquired a new position in shares of Varonis Systems during the 1st quarter valued at about $706,000. Diversified Trust Co bought a new position in shares of Varonis Systems in the 2nd quarter valued at approximately $575,000. Swedbank AB acquired a new stake in Varonis Systems in the 1st quarter worth approximately $3,344,000. Finally, Harbor Capital Advisors Inc. boosted its position in Varonis Systems by 562.0% during the second quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock worth $928,000 after purchasing an additional 16,416 shares during the period. Institutional investors own 95.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Baird R W raised shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Susquehanna raised their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Piper Sandler upped their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Robert W. Baird upgraded shares of Varonis Systems from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $52.00 to $60.00 in a research 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.67.

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.