Varonis Systems, Inc. (NASDAQ:VRNS)’s share price shot up NaN during mid-day trading on Friday after Jefferies Group raised their price target on the stock from $52.00 to $55.00. Jefferies Group currently has a buy rating on the stock. Varonis Systems traded as high as $51.70 and last traded at $0.00. 0 shares were traded during mid-day trading, a decline of 100% from the average session volume of 252,802 shares.
VRNS has been the subject of a number of other research reports. Zacks Investment Research raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Thursday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $44.00 target price on shares of Varonis Systems in a research note on Wednesday, October 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 target price (up previously from $44.00) on shares of Varonis Systems in a research note on Monday, September 11th. BidaskClub raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Needham & Company LLC raised their target price on shares of Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Varonis Systems has a consensus rating of “Buy” and a consensus price target of $44.90.
In related news, CFO Guy Melamed sold 605 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.65, for a total transaction of $26,408.25. Following the completion of the sale, the chief financial officer now owns 95,491 shares of the company’s stock, valued at $4,168,182.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gili Iohan sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $39.32, for a total transaction of $1,966,000.00. Following the sale, the director now directly owns 59,650 shares of the company’s stock, valued at approximately $2,345,438. The disclosure for this sale can be found here. Insiders have sold 465,013 shares of company stock valued at $19,116,878 in the last three months. 19.50% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wisconsin Investment Board increased its position in shares of Varonis Systems by 67.0% during the second quarter. State of Wisconsin Investment Board now owns 192,000 shares of the technology company’s stock valued at $7,142,000 after acquiring an additional 77,000 shares in the last quarter. Credit Suisse AG boosted its holdings in Varonis Systems by 109.5% in the first quarter. Credit Suisse AG now owns 290,948 shares of the technology company’s stock worth $9,252,000 after purchasing an additional 152,048 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Varonis Systems by 168,951.4% in the second quarter. BNP Paribas Arbitrage SA now owns 121,717 shares of the technology company’s stock worth $4,528,000 after purchasing an additional 121,645 shares during the last quarter. Unterberg Capital LLC boosted its holdings in Varonis Systems by 66.7% in the second quarter. Unterberg Capital LLC now owns 125,000 shares of the technology company’s stock worth $4,650,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in Varonis Systems in the second quarter worth approximately $2,897,000. 82.15% of the stock is owned by institutional investors.
Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share (EPS) for the quarter. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 19.29%. The company had revenue of $53.60 million for the quarter, compared to analysts’ expectations of $50.53 million. During the same quarter last year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. research analysts anticipate that Varonis Systems, Inc. will post -0.58 earnings per share for the current fiscal year.
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Varonis Systems Company Profile
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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