Varonis Systems (NASDAQ:VRNS) Shares Down 3.1% Following Insider Selling

Varonis Systems, Inc. (NASDAQ:VRNSGet Free Report) shares dropped 3.1% during trading on Monday following insider selling activity. The stock traded as low as $50.35 and last traded at $50.36. Approximately 115,518 shares were traded during trading, a decline of 92% from the average daily volume of 1,438,982 shares. The stock had previously closed at $51.98.

Specifically, SVP James O’boyle sold 4,098 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $45.50, for a total transaction of $186,459.00. Following the sale, the senior vice president now owns 460,061 shares in the company, valued at $20,932,775.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP James O’boyle sold 4,098 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $45.50, for a total transaction of $186,459.00. Following the sale, the senior vice president now owns 460,061 shares in the company, valued at $20,932,775.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ofer Segev sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $52.13, for a total value of $260,650.00. Following the transaction, the director now directly owns 75,682 shares in the company, valued at approximately $3,945,302.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 381,377 shares of company stock worth $18,881,296. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VRNS shares. Citigroup upped their price target on Varonis Systems from $35.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Stephens reaffirmed an “overweight” rating and set a $55.00 price target on shares of Varonis Systems in a research note on Tuesday, February 6th. TheStreet raised Varonis Systems from a “d+” rating to a “c-” rating in a research note on Monday, November 13th. Piper Sandler increased their target price on Varonis Systems from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. increased their target price on Varonis Systems from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.40.

View Our Latest Stock Analysis on VRNS

Varonis Systems Stock Performance

The company has a market cap of $5.45 billion, a price-to-earnings ratio of -54.30 and a beta of 0.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a 50-day moving average price of $45.32 and a 200 day moving average price of $37.10.

Institutional Investors Weigh In On Varonis Systems

Hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp grew its holdings in shares of Varonis Systems by 5.6% during the first quarter. Mackenzie Financial Corp now owns 6,103 shares of the technology company’s stock worth $290,000 after buying an additional 325 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Varonis Systems by 4.4% during the third quarter. Teacher Retirement System of Texas now owns 8,502 shares of the technology company’s stock worth $260,000 after buying an additional 356 shares in the last quarter. Captrust Financial Advisors grew its stake in Varonis Systems by 35.9% in the first quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock valued at $66,000 after purchasing an additional 366 shares in the last quarter. Natixis Advisors L.P. grew its stake in Varonis Systems by 3.7% in the fourth quarter. Natixis Advisors L.P. now owns 10,441 shares of the technology company’s stock valued at $472,000 after purchasing an additional 370 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Varonis Systems by 87.2% in the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after purchasing an additional 429 shares in the last quarter. Institutional investors and hedge funds own 92.47% of the company’s stock.

About Varonis Systems

(Get Free Report)

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.

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