Varonis Systems, Inc. (NASDAQ:VRNS) CFO Guy Melamed Sells 91,345 Shares

Varonis Systems, Inc. (NASDAQ:VRNS) CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Varonis Systems Price Performance

VRNS stock traded down $1.15 during midday trading on Friday, reaching $51.08. The stock had a trading volume of 1,389,447 shares, compared to its average volume of 1,349,291. The company’s fifty day simple moving average is $55.20 and its 200 day simple moving average is $50.56. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.74 billion, a price-to-earnings ratio of -68.11 and a beta of 0.82. Varonis Systems, Inc. has a 52-week low of $36.87 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) EPS. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Baird R W raised shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. UBS Group raised their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Varonis Systems by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock valued at $530,978,000 after acquiring an additional 155,040 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Varonis Systems by 4.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock valued at $137,885,000 after acquiring an additional 127,129 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Varonis Systems by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock valued at $106,396,000 after acquiring an additional 23,231 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Varonis Systems by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after acquiring an additional 147,081 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its position in shares of Varonis Systems by 40.8% during the 1st quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company’s stock valued at $76,032,000 after acquiring an additional 466,688 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

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.