Shares of Varonis Systems Inc. (NASDAQ:VRNS) have received an average recommendation of “Buy” from the thirteen ratings firms that are currently covering the company. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $30.30.

Several research analysts recently issued reports on the stock. RBC Capital Markets reiterated an “outperform” rating and set a $32.00 price target (up previously from $27.00) on shares of Varonis Systems in a research report on Thursday, August 11th. Jefferies Group boosted their price objective on Varonis Systems from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Imperial Capital boosted their price objective on Varonis Systems from $27.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th. Summit Redstone reissued a “buy” rating and set a $30.00 price objective on shares of Varonis Systems in a report on Thursday, June 30th. Finally, Royal Bank Of Canada boosted their price objective on Varonis Systems from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, August 10th.

In related news, CEO Yakov Faitelson sold 10,683 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $26.00, for a total value of $277,758.00. Following the completion of the transaction, the chief executive officer now directly owns 1,211,347 shares in the company, valued at approximately $31,495,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gili Iohan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $26.00, for a total value of $130,000.00. Following the completion of the transaction, the chief financial officer now owns 56,090 shares of the company’s stock, valued at $1,458,340. The disclosure for this sale can be found here. 31.40% of the stock is owned by corporate insiders.

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Several institutional investors have recently modified their holdings of VRNS. Jennison Associates LLC raised its position in shares of Varonis Systems by 6.1% in the second quarter. Jennison Associates LLC now owns 1,667,302 shares of the company’s stock valued at $40,049,000 after buying an additional 95,439 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Varonis Systems by 14.4% in the second quarter. Vanguard Group Inc. now owns 481,302 shares of the company’s stock valued at $11,560,000 after buying an additional 60,491 shares in the last quarter. Thrax Management LLC raised its position in shares of Varonis Systems by 51.4% in the first quarter. Thrax Management LLC now owns 312,753 shares of the company’s stock valued at $5,708,000 after buying an additional 106,220 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Varonis Systems by 20.5% in the second quarter. BlackRock Fund Advisors now owns 278,078 shares of the company’s stock valued at $6,679,000 after buying an additional 47,234 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Varonis Systems by 7.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 267,737 shares of the company’s stock valued at $6,431,000 after buying an additional 19,436 shares in the last quarter. Institutional investors and hedge funds own 41.00% of the company’s stock.

Shares of Varonis Systems (NASDAQ:VRNS) traded up 1.42% on Wednesday, hitting $29.92. 38,842 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $28.23 and its 200 day moving average price is $23.59. The company’s market cap is $789.56 million. Varonis Systems has a 1-year low of $13.25 and a 1-year high of $30.30.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.05. The business had revenue of $38.60 million for the quarter, compared to the consensus estimate of $36.60 million. Varonis Systems had a negative net margin of 13.27% and a negative return on equity of 24.20%. The firm’s quarterly revenue was up 32.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. On average, equities research analysts expect that Varonis Systems will post ($0.34) earnings per share for the current year.

About Varonis Systems

Varonis Systems, Inc (Varonis) provides a software platform that allows enterprises to analyze, secure, manage and utilize their unstructured data. The Company specializes in human-generated data, a type of unstructured data that includes an enterprise’s spreadsheets, word processing documents, presentations, audio files, video files, e-mails, text messages and any other data created by employees.

5 Day Chart for NASDAQ:VRNS

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