Varonis Systems, Inc. (NASDAQ: VRNS) Short interest rate up 179.0% in March
Varonis Systems, Inc. (NASDAQ: VRNS) was the target of a sharp increase in short-term interest during the month of March. As of March 15, there was short interest totaling 5,050,000 shares, an increase of 179.0% from the total of 1,810,000 shares as of February 28. Based on an average daily volume of 1,590,000 shares, the short interest ratio is currently 3.2 days.
VRNS has been the subject of several recent analyst reports. Piper Sandler raised her price target on Varonis Systems shares from $ 60.00 to $ 66.67 and gave the company an “overweight” rating in a report on Tuesday, February 9. Craig Hallum raised his price target on Varonis Systems from $ 50.00 to $ 78.33 and gave the company a “buy” rating in a research report on Tuesday, February 9. Berenberg Bank upgraded Varonis Systems from a “hold” rating to a “buy” rating and set a price target of $ 84.33 for the company in a report on Thursday, February 25. Benchmark raised its price target on Varonis Systems from $ 48.33 to $ 68.33 and gave the company a “buy” rating in a research note on Tuesday, February 9. Finally, DA Davidson raised its price target on Varonis Systems shares from $ 51.67 to $ 76.67 and gave the company a “buy” rating in a report on Wednesday, February 10. One analyst rated the stock with a sell rating, two assigned a sustaining rating, and fifteen assigned a buy rating to the company’s stock. Varonis Systems has a “Buy” consensus rating and an average target price of $ 58.90.
Similarly, EVP David Bass sold 5,500 shares in a trade dated Thursday, January 7. The shares were sold for an average price of $ 170.37, for a total value of $ 937,035.00. Following the sale, the Executive Vice President now owns 163,775 shares of the company, valued at approximately $ 27,902,346.75. The transaction was disclosed in a filing with the SEC, accessible via this hyperlink. In addition, Den Bosch director Fred Van sold 1,500 shares of the company’s stock in a trade dated Monday, February 1. The shares were sold for an average price of $ 175.23, for a total transaction of $ 262,845.00. As a result of the transaction, the Director now directly owns 48,984 shares of the company, valued at $ 8,583,466.32. Disclosure of this sale can be found here. In the past three months, insiders have sold 205,299 shares valued at $ 37,785,596. Company insiders own 2.70% of the company’s shares.
Several hedge funds and other institutional investors have recently changed their positions in VRNS. Baillie Gifford & Co. acquired a new position in Varonis Systems during the fourth quarter valued at approximately $ 34,000. Advisory Services Network LLC acquired a new position in shares of Varonis Systems during the 4th quarter valued at $ 65,000. Benjamin F. Edwards & Company Inc. increased its holdings of Varonis Systems shares by 103.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 953 shares of the tech company valued at $ 156,000 after purchasing an additional 485 shares in the last quarter. Comerica Bank acquired a new stake in Varonis Systems shares in the 4th quarter valued at $ 200,000. Finally, Nisa Investment Advisors LLC increased its holdings in Varonis Systems by 13.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,240 shares of the tech company valued at $ 203,000 after purchasing an additional 150 shares in the last quarter.
Actions of VRNS open for $ 53.36 on Fridays. Varonis Systems has a 52 week minimum of $ 17.21 and a 52 week maximum of $ 75.33. The company has a debt to equity ratio of 2.74, a quick ratio of 2.69 and a current ratio of 2.69. The company has a market cap of $ 5.10 billion, a PE ratio of -18.86 and a beta of 1.12. The company’s 50-day average mobile price is $ 68.11 and its 200-day average mobile price is $ 51.55.
Varonis Systems (NASDAQ: VRNS) last announced its quarterly earnings data on Sunday, February 7. The tech company reported earnings per share (EPS) of $ 0.11 for the quarter, beating the Thomson Reuters consensus estimate of $ 0.04 by $ 0.07. Varonis Systems posted a negative return on equity of 97.77% and a negative net margin of 33.75%. The company posted revenue of $ 95.19 million in the quarter, compared to analysts’ estimates of $ 84.06 million. During the same period last year, the company made earnings per share ($ 0.03). Varonis Systems quarterly revenue increased 31.2% compared to the same quarter last year. On average, equity analysts expect Varonis Systems to post earnings per share of -2.73 for the current fiscal year.
Varonis Systems Company Profile
Varonis Systems, Inc provides software products and services that enable businesses to manage, analyze, and secure corporate data in North America, Europe, the Middle East, Africa and internationally. Its software enables businesses to protect data stored on premise and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, patient and employee data; financial records; strategic and product plans; and other intellectual properties.
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