Morgan Stanley Lowers Varonis Systems (NASDAQ:VRNS) Price Target to $32.00

Varonis Systems (NASDAQ:VRNSGet Rating) had its price target lowered by Morgan Stanley from $35.00 to $32.00 in a report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Cowen reduced their price objective on Varonis Systems from $62.00 to $53.00 in a research report on Tuesday. Cowen reduced their price objective on Varonis Systems from $62.00 to $53.00 in a research report on Tuesday. Needham & Company LLC reduced their price objective on Varonis Systems from $75.00 to $35.00 and set a buy rating for the company in a research report on Tuesday. Barclays cut their target price on Varonis Systems from $36.00 to $32.00 and set an equal weight rating for the company in a research note on Tuesday. Finally, Craig Hallum cut their target price on Varonis Systems from $64.00 to $35.00 and set a buy rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $45.25.

Varonis Systems Stock Down 0.9 %

VRNS opened at $29.96 on Tuesday. Varonis Systems has a 1-year low of $24.58 and a 1-year high of $73.46. The company has a current ratio of 4.34, a quick ratio of 4.61 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -24.36 and a beta of 1.17. The business has a 50 day moving average of $30.28 and a 200-day moving average of $36.92.

Insiders Place Their Bets

In other Varonis Systems news, VP Dov Gottlieb sold 8,907 shares of the stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $33.07, for a total transaction of $294,554.49. Following the completion of the transaction, the vice president now directly owns 161,722 shares in the company, valued at $5,348,146.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Varonis Systems news, Director Avrohom J. Kess bought 2,400 shares of the stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $29.95 per share, for a total transaction of $71,880.00. Following the completion of the purchase, the director now owns 8,810 shares in the company, valued at approximately $263,859.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dov Gottlieb sold 8,907 shares of the firm’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $33.07, for a total value of $294,554.49. Following the completion of the sale, the vice president now owns 161,722 shares of the company’s stock, valued at $5,348,146.54. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Varonis Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MQS Management LLC increased its stake in shares of Varonis Systems by 58.9% in the second quarter. MQS Management LLC now owns 7,970 shares of the technology company’s stock valued at $234,000 after buying an additional 2,953 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Varonis Systems by 22.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,890 shares of the technology company’s stock valued at $1,991,000 after acquiring an additional 12,426 shares during the last quarter. abrdn plc boosted its holdings in Varonis Systems by 1.6% in the second quarter. abrdn plc now owns 58,600 shares of the technology company’s stock valued at $1,719,000 after acquiring an additional 915 shares during the last quarter. Herald Investment Management Ltd boosted its holdings in Varonis Systems by 3.6% in the second quarter. Herald Investment Management Ltd now owns 475,500 shares of the technology company’s stock valued at $13,946,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Varonis Systems by 13.7% in the second quarter. Envestnet Asset Management Inc. now owns 17,064 shares of the technology company’s stock valued at $500,000 after acquiring an additional 2,059 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors and hedge funds.

About Varonis Systems

(Get Rating)

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; strategic and product plans; and other intellectual property.

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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