Varonis Systems Inc (NASDAQ:VRNS) dropped 9.2% on Tuesday . The stock traded as low as $47.45 and last traded at $47.55. Approximately 632,200 shares changed hands during mid-day trading, an increase of 113% from the average daily volume of 296,663 shares. The stock had previously closed at $52.35.

Several equities research analysts have recently commented on VRNS shares. Royal Bank Of Canada reiterated a “buy” rating and set a $44.00 price target on shares of Varonis Systems in a research report on Monday, September 11th. Jefferies Group lifted their price target 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. Zacks Investment Research upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Thursday, November 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price target (up previously from $44.00) on shares of Varonis Systems in a research report on Monday, September 11th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Varonis Systems in a research report on Friday, November 3rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Varonis Systems has an average rating of “Buy” and an average target price of $46.90.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. The firm had revenue of $53.60 million for the quarter, compared to analyst estimates of $50.53 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue was up 31.1% on a year-over-year basis. equities analysts predict that Varonis Systems Inc will post -0.53 EPS for the current year.

In related news, insider Ohad Korkus sold 48,024 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $50.26, for a total transaction of $2,413,686.24. Following the transaction, the insider now directly owns 31,872 shares in the company, valued at $1,601,886.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Guy Melamed sold 605 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $43.65, for a total transaction of $26,408.25. Following the transaction, the chief financial officer now owns 95,491 shares in the company, valued at $4,168,182.15. The disclosure for this sale can be found here. In the last three months, insiders sold 744,390 shares of company stock worth $33,251,353. 19.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. TIAA CREF Investment Management LLC increased its holdings in shares of Varonis Systems by 11.7% in the first quarter. TIAA CREF Investment Management LLC now owns 62,246 shares of the technology company’s stock valued at $1,979,000 after purchasing an additional 6,524 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 173,332 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Varonis Systems by 4.9% in the first quarter. Geode Capital Management LLC now owns 137,106 shares of the technology company’s stock valued at $4,359,000 after purchasing an additional 6,434 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Varonis Systems in the first quarter valued at $340,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Varonis Systems by 7.6% in 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 purchasing an additional 3,591 shares during the last quarter. Institutional investors and hedge funds own 84.46% 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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