Varonis Systems, Inc. (NASDAQ:VRNS) Vice Chairman James O’boyle Sells 50,000 Shares

Varonis Systems, Inc. (NASDAQ:VRNS) Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the sale, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

James O’boyle also recently made the following trade(s):

• On Tuesday, August 6th, James O’boyle sold 75,000 shares of Varonis Systems stock. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00.

Varonis Systems Price Performance

Shares of VRNS stock opened at $59.43 on Friday. The stock has a 50 day moving average price of $55.88 and a 200 day moving average price of $49.38. The firm has a market capitalization of $6.63 billion, a P/E ratio of -63.22 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. Varonis Systems, Inc. has a 52-week low of $30.89 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The firm had revenue of $130.35 million during the quarter, compared to analyst estimates of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) earnings per share. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Hedge Funds Weigh In On Varonis Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in Varonis Systems in the fourth quarter worth approximately $232,000. Goldman Sachs Group Inc. increased its stake in shares of Varonis Systems by 8.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,328,250 shares of the technology company’s stock valued at $60,143,000 after buying an additional 104,171 shares during the period. Wellington Management Group LLP raised its holdings in shares of Varonis Systems by 51.5% in the fourth quarter. Wellington Management Group LLP now owns 722,337 shares of the technology company’s stock valued at $32,707,000 after acquiring an additional 245,476 shares in the last quarter. NBC Securities Inc. purchased a new stake in Varonis Systems in the first quarter worth about $68,000. Finally, Principal Financial Group Inc. increased its position in Varonis Systems by 121.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,503,683 shares of the technology company’s stock valued at $70,929,000 after purchasing an additional 824,163 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler increased their price target on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Wedbush reissued an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Wells Fargo & Company upped their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Finally, Barclays upped their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Varonis Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

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.