Insider Selling: Varonis Systems, Inc. (NASDAQ:VRNS) CFO Sells $4,905,226.50 in Stock

Varonis Systems, Inc. (NASDAQ:VRNS) CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the transaction, the chief financial officer now owns 504,598 shares of the company’s stock, valued at $27,096,912.60. The trade was a 15.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $51.08 on Monday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $5.75 billion, a PE ratio of -68.11 and a beta of 0.82. The firm’s 50 day moving average price is $55.20 and its 200-day moving average price is $50.65. Varonis Systems, Inc. has a twelve month low of $36.87 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. During the same period last year, the firm earned ($0.22) earnings per share. The company’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts expect that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Analyst Ratings Changes

VRNS has been the subject of several recent analyst reports. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lifted their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a report on Wednesday, October 30th. Truist Financial restated a “buy” rating and issued a $60.00 price objective (up from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

Hedge Funds Weigh In On Varonis Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its stake in shares of Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the period. International Assets Investment Management LLC increased its holdings in Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,442 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Varonis Systems during the 3rd quarter worth approximately $184,000. KBC Group NV lifted its holdings in Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after purchasing an additional 663 shares in the last quarter. Finally, Atom Investors LP bought a new position in shares of Varonis Systems in the third quarter worth approximately $224,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

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; source code, strategic and product plans; and other intellectual property.