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

Varonis Systems, Inc. (NASDAQ:VRNS) Director Rachel Prishkolnik acquired 1,015 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was purchased at an average price of $25.72 per share, with a total value of $26,105.80. Following the purchase, the director owned 33,953 shares in the company, valued at approximately $873,271.16. The trade was a 3.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Varonis Systems Price Performance

Varonis Systems stock opened at $48.80 on Friday. Varonis Systems, Inc. has a 52 week low of $19.70 and a 52 week high of $50.31. The company’s 50 day moving average price is $47.61 and its two-hundred day moving average price is $35.94. The company has a quick ratio of 1.65, a current ratio of 1.47 and a debt-to-equity ratio of 1.05. The stock has a market cap of $5.61 billion, a P/E ratio of -36.69 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, November 3rd. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The firm had revenue of $189.46 million for the quarter, compared to the consensus estimate of $186.74 million. Varonis Systems had a negative return on equity of 22.20% and a negative net margin of 21.38%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. On average, equities analysts predict that Varonis Systems, Inc. will post -0.93 earnings per share for the current year.

Hedge Funds Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently bought and sold shares of VRNS. American Capital Management Inc. bought a new stake in shares of Varonis Systems in the second quarter valued at $94,062,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Varonis Systems during the 2nd quarter valued at $61,262,000. Russell Investments Group Ltd. grew its stake in shares of Varonis Systems by 41.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,008,115 shares of the technology company’s stock worth $47,821,000 after acquiring an additional 293,245 shares during the period. Senvest Management LLC grew its stake in shares of Varonis Systems by 406.1% during the 1st quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company’s stock worth $31,109,000 after acquiring an additional 1,162,651 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of Varonis Systems during the 2nd quarter worth $30,733,000. 95.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VRNS has been the subject of several research analyst reports. Weiss Ratings raised Varonis Systems from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 23rd. Royal Bank Of Canada cut Varonis Systems from an “outperform” rating to a “neutral” rating in a research note on Friday, October 16th. TD Cowen downgraded shares of Varonis Systems from a “buy” rating to a “hold” rating and cut their price target for the stock from $56.00 to $49.75 in a report on Friday, October 16th. Susquehanna lowered shares of Varonis Systems from a “positive” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $49.75 in a research report on Thursday. Finally, Truist Financial lowered shares of Varonis Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 16th. Four investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.