Varonis Systems Target of Unusually High Options Trading (NASDAQ:VRNS)

view original post

Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) was the recipient of unusually large options trading activity on Tuesday. Traders bought 2,277 put options on the company. This is an increase of approximately 367% compared to the typical volume of 488 put options.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cowen dropped their price objective on Varonis Systems from $62.00 to $53.00 in a research note on Tuesday. Morgan Stanley decreased their target price on Varonis Systems from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday. Summit Insights reissued a “buy” rating on shares of Varonis Systems in a report on Monday, May 2nd. Wells Fargo & Company decreased their price objective on Varonis Systems from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Wedbush reduced their target price on Varonis Systems from $60.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, May 3rd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $27.84 on Wednesday. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.46. Varonis Systems has a 12-month low of $24.58 and a 12-month high of $73.46. The stock has a 50-day moving average price of $30.46 and a 200 day moving average price of $37.08. The stock has a market capitalization of $3.05 billion, a P/E ratio of -23.01 and a beta of 1.17.

Varonis Systems (NASDAQ:VRNSGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The technology company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.10). The firm had revenue of $96.26 million for the quarter, compared to the consensus estimate of $96.00 million. Varonis Systems had a negative net margin of 31.58% and a negative return on equity of 19.97%. During the same period in the previous year, the company posted ($0.34) earnings per share. Equities research analysts forecast that Varonis Systems will post -0.9 EPS for the current fiscal year.

Insider Transactions at Varonis Systems

In other news, VP Dov Gottlieb sold 8,907 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $33.07, for a total value of $294,554.49. Following the completion of the transaction, the vice president now owns 161,722 shares of the company’s stock, valued at $5,348,146.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Varonis Systems news, VP Dov Gottlieb sold 8,907 shares of the stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $33.07, for a total transaction of $294,554.49. Following the completion of the sale, the vice president now owns 161,722 shares of the company’s stock, valued at approximately $5,348,146.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ofer Segev sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $31.48, for a total value of $47,220.00. Following the transaction, the director now owns 75,410 shares in the company, valued at $2,373,906.80. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

A number of institutional investors and hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise increased its holdings in Varonis Systems by 2.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 47,310 shares of the technology company’s stock worth $1,387,000 after purchasing an additional 996 shares during the period. Chartwell Investment Partners LLC increased its holdings in shares of Varonis Systems by 47.6% in the 2nd quarter. Chartwell Investment Partners LLC now owns 59,659 shares of the technology company’s stock valued at $1,749,000 after acquiring an additional 19,250 shares during the period. Meitav Dash Investments Ltd. grew its stake in Varonis Systems by 6.0% during the 2nd quarter. Meitav Dash Investments Ltd. now owns 1,383,471 shares of the technology company’s stock worth $40,256,000 after buying an additional 78,760 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in Varonis Systems by 5.1% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 826,605 shares of the technology company’s stock worth $24,236,000 after buying an additional 40,197 shares during the last quarter. Finally, Emerald Advisers LLC grew its stake in Varonis Systems by 0.8% during the 2nd quarter. Emerald Advisers LLC now owns 975,300 shares of the technology company’s stock worth $28,596,000 after buying an additional 7,873 shares during the last quarter. 93.20% of the stock is owned by institutional investors.

About Varonis Systems

(Get Rating)

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees’ data; financial records; strategic and product plans; and other intellectual property.

Read More

Receive News & Ratings for Varonis Systems Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Varonis Systems and related companies with MarketBeat.com’s FREE daily email newsletter.