Varonis Systems (NASDAQ:VRNS) Trading 4.2% Higher

Varonis Systems, Inc. (NASDAQ:VRNS)’s share price traded up 4.2% during mid-day trading on Thursday . The stock traded as high as $45.26 and last traded at $45.26. 174,578 shares traded hands during trading, a decline of 86% from the average session volume of 1,220,639 shares. The stock had previously closed at $43.45.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Varonis Systems from $48.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a research note on Monday, May 13th. Royal Bank of Canada raised their price target on shares of Varonis Systems from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. raised shares of Varonis Systems from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $50.00 to $54.00 in a research note on Friday, June 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $55.00 price target (up from $50.00) on shares of Varonis Systems in a research note on Wednesday, March 13th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.31.

Varonis Systems Stock Performance

The business’s 50 day moving average price is $43.81 and its 200-day moving average price is $45.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.38 and a current ratio of 2.38.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, May 6th. The technology company reported ($0.37) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.37). The company had revenue of $114.02 million for the quarter, compared to analyst estimates of $113.81 million. Varonis Systems had a negative net margin of 20.38% and a negative return on equity of 21.33%. Equities research analysts predict that Varonis Systems, Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity

In other news, CEO Yakov Faitelson sold 284,211 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the completion of the sale, the chief executive officer now owns 1,452,922 shares of the company’s stock, valued at $65,715,662.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC grew 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 worth $42,000 after buying an additional 429 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Varonis Systems in the first quarter worth $63,000. NBC Securities Inc. acquired a new position in Varonis Systems in the first quarter worth $68,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Varonis Systems in the fourth quarter worth $77,000. Finally, International Assets Investment Management LLC boosted its holdings in Varonis Systems by 1,779.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,886 shares during the period. Institutional investors and hedge funds own 95.65% of the company’s stock.

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.