Varonis Systems Inc. (VRNS) Hits New 12-Month High at $30.50
Varonis Systems Inc. (NASDAQ:VRNS)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $30.50 and last traded at $30.25, with a volume of 150,362 shares changing hands. The stock had previously closed at $29.50.
Several equities analysts have recently weighed in on the company. Imperial Capital restated an “outperform” rating and issued a $35.00 target price on shares of Varonis Systems in a research report on Friday, September 9th. Brean Capital restated a “buy” rating on shares of Varonis Systems in a research report on Thursday, September 8th. RBC Capital Markets restated an “outperform” rating and issued a $32.00 target price (up previously from $27.00) on shares of Varonis Systems in a research report on Thursday, August 11th. JMP Securities raised their target price on Varonis Systems from $29.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 10th. Finally, Jefferies Group raised their target price on Varonis Systems from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Varonis Systems presently has an average rating of “Buy” and an average price target of $30.08.
The company’s market cap is $798.27 million. The company has a 50-day moving average price of $28.37 and a 200 day moving average price of $23.64.
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Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.05. The firm earned $38.60 million during the quarter, compared to the consensus estimate of $36.60 million. Varonis Systems had a negative return on equity of 24.20% and a negative net margin of 13.27%. The firm’s revenue was up 32.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.18) EPS. Analysts forecast that Varonis Systems Inc. will post ($0.34) EPS for the current year.
In other Varonis Systems news, CFO Gili Iohan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $26.00, for a total transaction of $130,000.00. Following the transaction, the chief financial officer now owns 56,090 shares in the company, valued at approximately $1,458,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ohad Korkus sold 175,631 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $27.14, for a total value of $4,766,625.34. Following the transaction, the insider now owns 1,186,698 shares in the company, valued at approximately $32,206,983.72. The disclosure for this sale can be found here. Company insiders own 31.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC boosted its position in Varonis Systems by 11.6% in the second quarter. BlackRock Advisors LLC now owns 5,967 shares of the company’s stock valued at $143,000 after buying an additional 620 shares during the last quarter. American International Group Inc. boosted its position in Varonis Systems by 17.4% in the second quarter. American International Group Inc. now owns 6,159 shares of the company’s stock valued at $148,000 after buying an additional 913 shares during the last quarter. Nationwide Fund Advisors boosted its position in Varonis Systems by 21.0% in the second quarter. Nationwide Fund Advisors now owns 6,986 shares of the company’s stock valued at $168,000 after buying an additional 1,211 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in Varonis Systems during the second quarter valued at about $178,000. Finally, Gofen & Glossberg LLC IL acquired a new position in Varonis Systems during the second quarter valued at about $213,000. Institutional investors own 41.00% of the company’s stock.
Varonis Systems Company Profile
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.
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