Short Interest in Varonis Systems Inc (VRNS) Declines By 38.5%
Varonis Systems Inc (NASDAQ:VRNS) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 684,502 shares, a drop of 38.5% from the April 28th total of 1,112,790 shares. Approximately 3.7% of the shares of the company are short sold. Based on an average daily trading volume, of 565,565 shares, the days-to-cover ratio is presently 1.2 days.
Varonis Systems (NASDAQ:VRNS) opened at 36.65 on Friday. The stock’s 50 day moving average price is $33.37 and its 200-day moving average price is $29.84. Varonis Systems has a one year low of $21.54 and a one year high of $37.00. The firm’s market capitalization is $997.47 million.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The company had revenue of $40.40 million for the quarter, compared to analyst estimates of $37.45 million. Varonis Systems had a negative return on equity of 22.63% and a negative net margin of 10.77%. The business’s revenue was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.29) earnings per share.
VRNS has been the topic of a number of recent research reports. Jefferies Group LLC raised their target price on Varonis Systems from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Needham & Company LLC initiated coverage on Varonis Systems in a research note on Monday, May 1st. They issued a “buy” rating and a $38.00 target price on the stock. Benchmark Co. initiated coverage on Varonis Systems in a research note on Thursday, April 27th. They issued a “buy” rating and a $40.00 target price on the stock. Zacks Investment Research upgraded Varonis Systems from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Tuesday, April 18th. Finally, Stifel Nicolaus upgraded Varonis Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $34.00 to $36.00 in a research note on Thursday, March 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Varonis Systems currently has an average rating of “Buy” and an average target price of $37.55.
In other Varonis Systems news, Director Rona Segev-Gal sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $36.65, for a total value of $183,250.00. Following the sale, the director now directly owns 24,907 shares in the company, valued at $912,841.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gili Iohan sold 12,382 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $36.49, for a total value of $451,819.18. Following the completion of the sale, the director now owns 62,450 shares in the company, valued at $2,278,800.50. The disclosure for this sale can be found here. Insiders sold 690,473 shares of company stock worth $22,153,735 over the last quarter. 31.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the company. Allianz Asset Management AG acquired a new position in Varonis Systems during the fourth quarter worth approximately $1,356,000. Highbridge Capital Management LLC raised its position in Varonis Systems by 519.4% in the fourth quarter. Highbridge Capital Management LLC now owns 47,553 shares of the technology company’s stock worth $1,274,000 after buying an additional 39,876 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Varonis Systems during the fourth quarter valued at about $3,189,000. Marshall Wace LLP purchased a new position in shares of Varonis Systems during the fourth quarter valued at about $2,410,000. Finally, Credit Agricole S A purchased a new position in shares of Varonis Systems during the fourth quarter valued at about $589,000. 47.22% of the stock is currently owned by institutional investors.
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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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