Varonis Systems Inc (VRNS) Short Interest Down 29.8% in November
Varonis Systems Inc (NASDAQ:VRNS) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 362,988 shares, a drop of 29.8% from the November 15th total of 517,239 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average trading volume of 307,794 shares, the days-to-cover ratio is presently 1.2 days.
In other Varonis Systems news, CEO Yakov Faitelson sold 70,842 shares of Varonis Systems stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $40.96, for a total value of $2,901,688.32. Following the completion of the sale, the chief executive officer now directly owns 334,908 shares in the company, valued at $13,717,831.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rona Segev-Gal sold 5,000 shares of Varonis Systems stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $48.05, for a total value of $240,250.00. Following the completion of the sale, the director now owns 15,107 shares of the company’s stock, valued at $725,891.35. The disclosure for this sale can be found here. Insiders have sold 672,400 shares of company stock valued at $30,405,533 over the last 90 days. 19.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in VRNS. Vanguard Group Inc. grew its stake in Varonis Systems by 30.4% in the first quarter. Vanguard Group Inc. now owns 744,340 shares of the technology company’s stock valued at $23,670,000 after acquiring an additional 173,332 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Varonis Systems during the first quarter valued at approximately $340,000. Schwab Charles Investment Management Inc. boosted its position in shares of Varonis Systems by 7.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 51,147 shares of the technology company’s stock valued at $1,627,000 after buying an additional 3,591 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Varonis Systems by 26.6% during the second quarter. First Trust Advisors LP now owns 276,210 shares of the technology company’s stock valued at $10,275,000 after buying an additional 58,086 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new position in shares of Varonis Systems during the second quarter valued at approximately $336,000. 84.46% of the stock is owned by hedge funds and other institutional investors.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.06 EPS for the quarter. Varonis Systems had a negative return on equity of 18.97% and a negative net margin of 7.91%. The firm had revenue of $53.60 million during the quarter, compared to analysts’ expectations of $50.53 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year. research analysts forecast that Varonis Systems will post -0.53 EPS for the current fiscal year.
VRNS has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 target price (up from $44.00) on shares of Varonis Systems in a report on Monday, September 11th. Oppenheimer initiated coverage on Varonis Systems in a report on Wednesday, December 6th. They issued an “outperform” rating and a $57.00 target price for the company. Jefferies Group lifted their target price on Varonis Systems from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Zacks Investment Research downgraded Varonis Systems from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $44.00 target price on shares of Varonis Systems in a report on Monday, September 11th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Varonis Systems currently has an average rating of “Buy” and a consensus price target of $48.82.
About Varonis Systems
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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