Varonis Systems (NASDAQ:VRNS) Reaches New 1-Year High at $93.24

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Varonis Systems Inc (NASDAQ:VRNS) hit a new 52-week high on Thursday . The company traded as high as $93.24 and last traded at $92.08, with a volume of 98789 shares changing hands. The stock had previously closed at $90.97.

A number of brokerages have recently weighed in on VRNS. Robert W. Baird reiterated a “buy” rating on shares of Varonis Systems in a report on Tuesday, October 29th. William Blair began coverage on Varonis Systems in a report on Thursday. They issued an “outperform” rating for the company. Morgan Stanley boosted their price target on Varonis Systems from $97.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday. Zacks Investment Research downgraded Varonis Systems from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, ValuEngine downgraded Varonis Systems from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. Varonis Systems currently has a consensus rating of “Buy” and an average price target of $94.27.

The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -35.49 and a beta of 0.92. The stock has a 50-day moving average of $83.95 and a 200-day moving average of $73.03.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, February 10th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.38. Varonis Systems had a negative return on equity of 72.60% and a negative net margin of 30.99%. The business had revenue of $72.60 million during the quarter, compared to analyst estimates of $72.05 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue for the quarter was down 17.0% compared to the same quarter last year. On average, equities analysts anticipate that Varonis Systems Inc will post -2.03 earnings per share for the current year.

In related news, EVP David Bass sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $76.41, for a total transaction of $420,255.00. Also, Director Gili Iohan sold 11,765 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $85.48, for a total value of $1,005,672.20. Following the transaction, the director now owns 18,131 shares of the company’s stock, valued at approximately $1,549,837.88. The disclosure for this sale can be found here. Insiders have sold a total of 82,441 shares of company stock valued at $6,867,471 in the last 90 days. Insiders own 2.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Varonis Systems in the first quarter valued at approximately $131,000. Valeo Financial Advisors LLC boosted its holdings in shares of Varonis Systems by 292.2% in the third quarter. Valeo Financial Advisors LLC now owns 702 shares of the technology company’s stock valued at $42,000 after acquiring an additional 523 shares during the period. Coe Capital Management LLC boosted its holdings in shares of Varonis Systems by 5.5% in the third quarter. Coe Capital Management LLC now owns 10,685 shares of the technology company’s stock valued at $639,000 after acquiring an additional 554 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Varonis Systems by 23.5% in the third quarter. California Public Employees Retirement System now owns 58,280 shares of the technology company’s stock valued at $3,484,000 after acquiring an additional 11,092 shares during the period. Finally, Mirador Capital Partners LP boosted its holdings in shares of Varonis Systems by 14.8% in the third quarter. Mirador Capital Partners LP now owns 11,963 shares of the technology company’s stock valued at $715,000 after acquiring an additional 1,539 shares during the period. Institutional investors own 97.04% of the company’s stock.

Varonis Systems Company Profile (NASDAQ:VRNS)

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

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