Guy Melamed Sells 91,345 Shares of Varonis Systems, Inc. (NASDAQ:VRNS) Stock

Varonis Systems, Inc. (NASDAQ:VRNS) CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the sale, the chief financial officer now owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Varonis Systems Stock Down 2.2 %

Varonis Systems stock traded down $1.15 during midday trading on Friday, hitting $51.08. 1,389,447 shares of the company’s stock were exchanged, compared to its average volume of 1,349,291. The company has a market cap of $5.74 billion, a PE ratio of -68.11 and a beta of 0.82. The firm has a 50-day moving average of $55.20 and a two-hundred day moving average of $50.56. Varonis Systems, Inc. has a 12 month low of $36.87 and a 12 month high of $60.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.22) earnings per share. As a group, analysts expect that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Robert W. Baird boosted their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Needham & Company LLC reissued a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Susquehanna boosted 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Varonis Systems currently has an average rating of “Moderate Buy” and an average price target of $59.67.

Institutional Trading of Varonis Systems

Several hedge funds have recently modified their holdings of the company. Barclays PLC raised its position in shares of Varonis Systems by 10.0% in the 3rd quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock valued at $22,007,000 after purchasing an additional 35,274 shares during the last quarter. Hodges Capital Management Inc. raised its position in shares of Varonis Systems by 8.4% in the 3rd quarter. Hodges Capital Management Inc. now owns 153,634 shares of the technology company’s stock valued at $8,680,000 after purchasing an additional 11,859 shares during the last quarter. XTX Topco Ltd raised its position in shares of Varonis Systems by 69.8% in the 3rd quarter. XTX Topco Ltd now owns 13,814 shares of the technology company’s stock valued at $780,000 after purchasing an additional 5,679 shares during the last quarter. Whitebox Advisors LLC purchased a new position in shares of Varonis Systems in the 3rd quarter valued at approximately $2,006,000. Finally, Two Sigma Advisers LP raised its position in shares of Varonis Systems by 46.7% in the 3rd quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after purchasing an additional 267,000 shares during the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

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.