Insider Buying: Varonis Systems (NASDAQ:VRNS) Director Acquires $26,105.80 in Stock

Varonis Systems, Inc. (NASDAQ:VRNS) Director Rachel Prishkolnik bought 1,015 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average cost of $25.72 per share, with a total value of $26,105.80. Following the completion of the transaction, the director owned 33,953 shares in the company, valued at approximately $873,271.16. This trade represents a 3.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Varonis Systems Stock Performance

NASDAQ:VRNS traded down $0.06 during mid-day trading on Thursday, reaching $48.74. 8,298,574 shares of the stock were exchanged, compared to its average volume of 2,726,115. The stock has a market capitalization of $5.60 billion, a P/E ratio of -36.65 and a beta of 0.76. Varonis Systems, Inc. has a 1 year low of $19.70 and a 1 year high of $50.31. The company has a 50 day simple moving average of $47.38 and a 200-day simple moving average of $35.78. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.02.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $189.46 million during the quarter, compared to analysts’ expectations of $186.74 million. Varonis Systems had a negative return on equity of 21.47% and a negative net margin of 21.38%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share. Analysts anticipate that Varonis Systems, Inc. will post -0.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Varonis Systems

Large investors have recently modified their holdings of the stock. American Capital Management Inc. acquired a new stake in shares of Varonis Systems during the second quarter worth $94,062,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in Varonis Systems in the 2nd quarter valued at $61,262,000. Senvest Management LLC increased its stake in Varonis Systems by 406.1% in the 1st quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company’s stock valued at $31,109,000 after buying an additional 1,162,651 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Varonis Systems by 218.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,409,487 shares of the technology company’s stock valued at $30,262,000 after buying an additional 966,817 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Varonis Systems during the 2nd quarter worth $30,733,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on VRNS shares. Wedbush increased their price target on shares of Varonis Systems from $46.00 to $49.75 and gave the stock a “neutral” rating in a research note on Friday, October 16th. Needham & Company LLC lowered shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 16th. Robert W. Baird upped their target price on shares of Varonis Systems from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 16th. Stephens downgraded shares of Varonis Systems from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 27th. Finally, Weiss Ratings upgraded shares of Varonis Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 23rd. Four analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Varonis Systems presently has a consensus rating of “Hold” and a consensus target price of $50.39.

About Varonis Systems

Varonis Systems, Inc develops data security software that helps organizations protect sensitive information, identify security risks and manage access to data. Its platform is designed to secure data stored across on-premises file systems, cloud environments, software-as-a-service applications and other enterprise repositories.

The company’s products support data discovery and classification, access analysis, threat detection, insider-risk monitoring, data loss prevention and security automation.