Shares of Varonis Systems, Inc. (NASDAQ:VRNS – Get Rating) gapped down before the market opened on Monday after Wolfe Research downgraded the stock from an outperform rating to a peer perform rating. The stock had previously closed at $29.09, but opened at $28.35. Varonis Systems shares last traded at $27.21, with a volume of 18,405 shares.
Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Varonis Systems from $60.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Citigroup decreased their target price on shares of Varonis Systems from $47.00 to $36.00 in a research note on Friday. Barclays decreased their target price on shares of Varonis Systems from $46.00 to $36.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 12th. Piper Sandler reduced their price objective on shares of Varonis Systems from $55.00 to $45.00 in a research report on Wednesday, July 13th. Finally, Truist Financial reduced their price objective on shares of Varonis Systems from $65.00 to $50.00 in a research report on Tuesday, May 10th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Varonis Systems currently has an average rating of “Moderate Buy” and a consensus price target of $51.69.
Insider Activity
In other news, Director Ofer Segev sold 1,500 shares of Varonis Systems stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $31.48, for a total transaction of $47,220.00. Following the completion of the sale, the director now directly owns 75,410 shares in the company, valued at approximately $2,373,906.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Ofer Segev sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $31.48, for a total transaction of $47,220.00. Following the completion of the transaction, the director now directly owns 75,410 shares of the company’s stock, valued at approximately $2,373,906.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Dov Gottlieb sold 8,907 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $33.07, for a total transaction of $294,554.49. Following the transaction, the vice president now directly owns 161,722 shares of the company’s stock, valued at $5,348,146.54. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC increased its stake in shares of Varonis Systems by 27.9% during the 1st quarter. William Blair Investment Management LLC now owns 4,523,947 shares of the technology company’s stock worth $215,068,000 after purchasing an additional 987,362 shares in the last quarter. First Trust Advisors LP grew its stake in Varonis Systems by 50.0% in the 4th quarter. First Trust Advisors LP now owns 3,550,829 shares of the technology company’s stock worth $173,209,000 after acquiring an additional 1,184,082 shares during the period. Clearbridge Investments LLC grew its stake in Varonis Systems by 11.6% in the 1st quarter. Clearbridge Investments LLC now owns 3,468,690 shares of the technology company’s stock worth $164,902,000 after acquiring an additional 360,921 shares during the period. State Street Corp grew its stake in Varonis Systems by 3.0% in the 1st quarter. State Street Corp now owns 2,296,041 shares of the technology company’s stock worth $109,154,000 after acquiring an additional 67,696 shares during the period. Finally, Geode Capital Management LLC grew its stake in Varonis Systems by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,847,632 shares of the technology company’s stock worth $90,127,000 after acquiring an additional 48,529 shares during the period. 93.20% of the stock is owned by hedge funds and other institutional investors.
Varonis Systems Price Performance
The stock has a market capitalization of $2.97 billion, a PE ratio of -22.40 and a beta of 1.31. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.46. The company’s 50 day simple moving average is $31.27 and its 200 day simple moving average is $37.83.
Varonis Systems (NASDAQ:VRNS – Get Rating) last released its earnings results on Monday, May 2nd. The technology company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.10). The firm had revenue of $96.26 million during the quarter, compared to analysts’ expectations of $96.00 million. Varonis Systems had a negative return on equity of 19.97% and a negative net margin of 31.58%. During the same period in the previous year, the firm posted ($0.34) earnings per share. On average, equities analysts anticipate that Varonis Systems, Inc. will post -0.9 earnings per share for the current year.
Varonis Systems Company Profile
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; strategic and product plans; and other intellectual property.
