Varonis Systems (NASDAQ:VRNS) Sets New 1-Year High at $57.17

Varonis Systems, Inc. (NASDAQ:VRNS)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $57.17 and last traded at $56.20, with a volume of 116081 shares traded. The stock had previously closed at $56.47.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on VRNS shares. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company upped their price objective on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Barclays boosted their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price target on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Finally, Truist Financial reissued a “buy” rating and set a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

Varonis Systems Stock Performance

The company’s 50 day simple moving average is $48.82 and its 200 day simple moving average is $47.30. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of -60.14 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. The business had revenue of $130.35 million during the quarter, compared to analyst estimates of $124.83 million. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. On average, equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the sale, the insider now owns 494,114 shares in the company, valued at $25,219,578.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Varonis Systems

Several hedge funds and other institutional investors have recently modified their holdings of VRNS. International Assets Investment Management LLC increased its holdings in Varonis Systems by 1,779.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after buying an additional 1,886 shares during the last quarter. Cerity Partners LLC acquired a new position in Varonis Systems during the 4th quarter worth $219,000. Strs Ohio boosted its holdings in Varonis Systems by 61.4% during the fourth quarter. Strs Ohio now owns 11,300 shares of the technology company’s stock valued at $511,000 after acquiring an additional 4,300 shares during the period. Xponance Inc. acquired a new stake in shares of Varonis Systems in the fourth quarter valued at about $300,000. Finally, Handelsbanken Fonder AB increased its stake in shares of Varonis Systems by 23.9% in the fourth quarter. Handelsbanken Fonder AB now owns 21,800 shares of the technology company’s stock worth $987,000 after purchasing an additional 4,200 shares during the period. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

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.