Varonis Systems (NASDAQ:VRNS) Price Target Lowered to $46.00 at Wells Fargo & Company

Varonis Systems (NASDAQ:VRNS) had its price target cut by Wells Fargo & Company from $48.00 to $46.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Other analysts have also issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 target price on shares of Varonis Systems in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. DA Davidson dropped their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Finally, Citigroup cut their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Five equities 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.12.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $43.37 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The company’s 50-day moving average price is $46.19 and its 200 day moving average price is $51.36. Varonis Systems has a 52 week low of $41.07 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. As a group, sell-side analysts expect that Varonis Systems will post -0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Guy Melamed sold 91,345 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its holdings in shares of Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after acquiring an additional 423 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Varonis Systems by 29.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after acquiring an additional 603 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Varonis Systems by 5,550.0% during 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. KBC Group NV raised its stake in Varonis Systems by 25.5% in the 3rd 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 during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Varonis Systems during the 3rd quarter worth about $184,000. 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.