Varonis Systems (VRNS) Reaches New 1-Year High and Low at $74.63

Shares of Varonis Systems Ltd. (NASDAQ:VRNS) hit a new 52-week high and low during mid-day trading on Monday . The stock traded as low as $74.63 and last traded at $74.45, with a volume of 299330 shares changing hands. The stock had previously closed at $73.55.

Several analysts have issued reports on VRNS shares. Zacks Investment Research raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Tuesday, January 23rd. BidaskClub raised shares of Varonis Systems from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Stephens reaffirmed a “buy” rating and issued a $60.00 price target on shares of Varonis Systems in a report on Tuesday, February 13th. Stifel Nicolaus boosted their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, DA Davidson initiated coverage on shares of Varonis Systems in a research report on Tuesday, March 27th. They issued a “buy” rating and a $73.00 price objective for the company. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $69.43.

The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -147.00 and a beta of 0.72.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, April 30th. The technology company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.09. Varonis Systems had a negative net margin of 7.75% and a negative return on equity of 17.00%. The firm had revenue of $53.53 million during the quarter, compared to analyst estimates of $49.71 million. During the same quarter in the prior year, the business posted ($0.23) earnings per share. Varonis Systems’s revenue for the quarter was up 35.2% compared to the same quarter last year. equities research analysts predict that Varonis Systems Ltd. will post -1.03 EPS for the current year.

In related news, CFO Guy Melamed sold 15,510 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $56.13, for a total transaction of $870,576.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yakov Faitelson sold 106,426 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $56.26, for a total transaction of $5,987,526.76. Following the transaction, the chief executive officer now directly owns 246,789 shares of the company’s stock, valued at approximately $13,884,349.14. The disclosure for this sale can be found here. Insiders have sold 299,440 shares of company stock valued at $17,814,696 in the last ninety days. 4.20% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of Varonis Systems in the first quarter worth $159,000. ETRADE Capital Management LLC acquired a new stake in shares of Varonis Systems in the fourth quarter worth $209,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Varonis Systems in the first quarter worth $220,000. Teacher Retirement System of Texas acquired a new stake in shares of Varonis Systems in the fourth quarter worth $254,000. Finally, Invictus RG acquired a new stake in shares of Varonis Systems in the fourth quarter worth $271,000. 83.14% of the stock is owned by hedge funds and other institutional investors.

About Varonis Systems

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.

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