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

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 topic of several other reports. BidaskClub downgraded shares of Varonis Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $42.00 price objective on shares of Varonis Systems in a research report on Thursday, July 20th. Barclays PLC reiterated a “hold” rating and issued a $45.00 price objective on shares of Varonis Systems in a research report on Wednesday, July 19th. Needham & Company LLC lifted their price objective on shares of Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price objective (up from $40.00) on shares of Varonis Systems in a research report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $43.20.

Varonis Systems (NASDAQ:VRNS) opened at 43.70 on Thursday. Varonis Systems has a 12-month low of $24.45 and a 12-month high of $43.75. The stock’s market capitalization is $1.20 billion. The company’s 50-day moving average is $40.21 and its 200 day moving average is $36.39.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.09. The firm had revenue of $50.20 million for the quarter, compared to the consensus estimate of $47.50 million. Varonis Systems had a negative net margin of 9.03% and a negative return on equity of 20.94%. Varonis Systems’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) EPS. On average, analysts predict that Varonis Systems will post $0.09 EPS for the current year.

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In other news, CFO Guy Melamed sold 8,491 shares of Varonis Systems stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $42.50, for a total value of $360,867.50. Following the transaction, the chief financial officer now owns 95,846 shares of the company’s stock, valued at approximately $4,073,455. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yakov Faitelson sold 7,000 shares of Varonis Systems stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $38.00, for a total transaction of $266,000.00. Following the completion of the transaction, the chief executive officer now directly owns 370,989 shares in the company, valued at approximately $14,097,582. The disclosure for this sale can be found here. Insiders have sold a total of 609,977 shares of company stock worth $24,359,243 over the last 90 days. 19.50% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in VRNS. Teachers Advisors LLC grew its stake in shares of Varonis Systems by 10.9% in the 4th quarter. Teachers Advisors LLC now owns 18,698 shares of the technology company’s stock worth $501,000 after purchasing an additional 1,838 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Varonis Systems by 192.5% in the 1st quarter. Wells Fargo & Company MN now owns 64,150 shares of the technology company’s stock worth $2,040,000 after purchasing an additional 42,222 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of Varonis Systems in the 1st quarter worth approximately $2,934,000. Oxford Asset Management acquired a new position in shares of Varonis Systems in the 1st quarter worth approximately $263,000. Finally, American International Group Inc. grew its stake in shares of Varonis Systems by 7.1% in the 1st quarter. American International Group Inc. now owns 6,588 shares of the technology company’s stock worth $209,000 after purchasing an additional 437 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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