Varonis Systems (VRNS) Stock Rating Lowered by Zacks Investment Research

Varonis Systems (NASDAQ:VRNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “

VRNS has been the subject of several other research reports. Royal Bank of Canada restated a “buy” rating and issued a $55.00 price target on shares of Varonis Systems in a research report on Thursday, December 7th. Jefferies Group increased their target price on shares of Varonis Systems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Barclays reiterated a “neutral” rating on shares of Varonis Systems in a research report on Tuesday, December 19th. Oppenheimer reiterated a “buy” rating and issued a $57.00 target price on shares of Varonis Systems in a research report on Wednesday, December 13th. Finally, Stephens reiterated a “buy” rating and issued a $58.00 target price on shares of Varonis Systems in a research report on Friday, January 12th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $53.36.

Shares of Varonis Systems (VRNS) traded down $0.25 during trading hours on Wednesday, hitting $53.55. 77,047 shares of the company traded hands, compared to its average volume of 209,460. The stock has a market cap of $1,486.59, a P/E ratio of -92.33 and a beta of 0.89. Varonis Systems has a fifty-two week low of $25.20 and a fifty-two week high of $55.85.

In other news, CFO Guy Melamed sold 897 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $48.95, for a total transaction of $43,908.15. Following the transaction, the chief financial officer now owns 95,408 shares in the company, valued at approximately $4,670,221.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Yakov Faitelson sold 63,807 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $50.35, for a total transaction of $3,212,682.45. Following the transaction, the chief executive officer now owns 157,651 shares in the company, valued at approximately $7,937,727.85. The disclosure for this sale can be found here. Insiders have sold a total of 281,323 shares of company stock worth $14,217,536 in the last 90 days. 19.50% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of VRNS. Jennison Associates grew its stake in Varonis Systems by 32.6% in the 3rd quarter. Jennison Associates now owns 942,968 shares of the technology company’s stock valued at $14,691,000 after buying an additional 232,084 shares during the last quarter. J. Goldman & Company acquired a new position in Varonis Systems in the 3rd quarter valued at $8,584,000. Brown Advisory Inc. grew its position in Varonis Systems by 2.2% in the 4th quarter. Brown Advisory Inc. now owns 57,880 shares of the technology company’s stock worth $1,088,000 after purchasing an additional 1,263 shares during the last quarter. Morgan Stanley grew its position in Varonis Systems by 71.6% in the 4th quarter. Morgan Stanley now owns 1,002,199 shares of the technology company’s stock worth $18,842,000 after purchasing an additional 418,234 shares during the last quarter. Finally, J. Goldman & Co LP grew its position in Varonis Systems by 19.5% in the 4th quarter. J. Goldman & Co LP now owns 658,329 shares of the technology company’s stock worth $12,377,000 after purchasing an additional 107,359 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

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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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