Varonis Systems (NASDAQ:VRNS) Sets New 12-Month Low on Analyst Downgrade

Shares of Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) hit a new 52-week low during trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $48.00 to $46.00. Wells Fargo & Company currently has an equal weight rating on the stock. Varonis Systems traded as low as $41.07 and last traded at $43.37, with a volume of 8381550 shares trading hands. The stock had previously closed at $46.84.

Several other equities research analysts also recently issued reports on VRNS. DA Davidson lowered their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. UBS Group lifted their price target on Varonis Systems from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Citigroup reduced their price objective on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Royal Bank of Canada reissued an "outperform" rating and issued a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, October 30th. Finally, Robert W. Baird upped their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Varonis Systems presently has an average rating of "Moderate Buy" and a consensus target price of $59.38.

Insiders Place Their Bets

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares of the company's stock, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.60% of the company's stock.

Institutional Trading of Varonis Systems

A number of hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its holdings in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock valued at $29,000 after acquiring an additional 423 shares during the period. Pacer Advisors Inc. increased its stake in shares of Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after purchasing an additional 603 shares during the period. International Assets Investment Management LLC lifted its holdings in Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock worth $140,000 after purchasing an additional 2,442 shares during the last quarter. KBC Group NV boosted its stake in Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company's stock valued at $184,000 after purchasing an additional 663 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Varonis Systems in the 3rd quarter valued at $184,000. Institutional investors and hedge funds own 95.65% of the company's stock.

Varonis Systems Stock Up 1.4 %

The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The stock has a market cap of $4.57 billion, a P/E ratio of -47.20 and a beta of 0.83. The firm has a 50-day simple moving average of $45.68 and a two-hundred day simple moving average of $51.21.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.45% and a negative net margin of 17.38%. Equities research analysts expect that Varonis Systems, Inc. will post -0.74 earnings per share for the current fiscal year.

Varonis Systems Company Profile

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; source code, strategic and product plans; and other intellectual property.