Barclays Trims Varonis Systems (NASDAQ:VRNS) Target Price to $32.00

Varonis Systems (NASDAQ:VRNSGet Rating) had its price target decreased by Barclays from $36.00 to $32.00 in a report published on Tuesday, The Fly reports. Barclays currently has an equal weight rating on the technology company’s stock.

Other analysts also recently issued research reports about the stock. Piper Sandler reduced their price target on shares of Varonis Systems from $45.00 to $37.00 and set an overweight rating on the stock in a report on Tuesday. Jefferies Financial Group reduced their price objective on shares of Varonis Systems from $65.00 to $40.00 in a research note on Monday, May 23rd. Morgan Stanley cut shares of Varonis Systems from an overweight rating to an equal weight rating and set a $35.00 target price on the stock. in a report on Monday, June 27th. Truist Financial lowered their target price on shares of Varonis Systems from $65.00 to $50.00 in a research note on Tuesday, May 10th. Finally, Wolfe Research lowered shares of Varonis Systems from an outperform rating to a peer perform rating in a research report on Monday, July 25th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Varonis Systems has an average rating of Moderate Buy and a consensus price target of $45.25.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $29.96 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.34 and a quick ratio of 4.61. The firm has a market capitalization of $3.28 billion, a P/E ratio of -24.36 and a beta of 1.17. Varonis Systems has a 12 month low of $24.58 and a 12 month high of $73.46. The company’s fifty day moving average price is $30.28 and its 200 day moving average price is $36.92.

Insider Buying and Selling

In other Varonis Systems news, Director Avrohom J. Kess acquired 2,400 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were bought at an average price of $29.95 per share, with a total value of $71,880.00. Following the completion of the acquisition, the director now owns 8,810 shares in the company, valued at approximately $263,859.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Varonis Systems news, VP Dov Gottlieb sold 8,907 shares of the business’s stock in a transaction dated Thursday, June 2nd. The shares were 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 directly owns 161,722 shares in the company, valued at $5,348,146.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Avrohom J. Kess acquired 2,400 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were bought at an average price of $29.95 per share, for a total transaction of $71,880.00. Following the acquisition, the director now owns 8,810 shares of the company’s stock, valued at $263,859.50. The disclosure for this purchase can be found here. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP grew its holdings in shares of Varonis Systems by 50.0% during the 4th quarter. First Trust Advisors LP now owns 3,550,829 shares of the technology company’s stock worth $173,209,000 after purchasing an additional 1,184,082 shares during the period. Meitav Dash Investments Ltd. raised its position in shares of Varonis Systems by 616.3% during the 1st quarter. Meitav Dash Investments Ltd. now owns 1,304,711 shares of the technology company’s stock worth $61,615,000 after acquiring an additional 1,122,574 shares in the last quarter. William Blair Investment Management LLC increased its position in Varonis Systems by 27.9% during the first quarter. William Blair Investment Management LLC now owns 4,523,947 shares of the technology company’s stock worth $215,068,000 after buying an additional 987,362 shares during the period. Marshall Wace LLP increased its holdings in shares of Varonis Systems by 2,756.4% in the fourth quarter. Marshall Wace LLP now owns 640,173 shares of the technology company’s stock valued at $31,230,000 after purchasing an additional 617,761 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Varonis Systems by 48.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,533,563 shares of the technology company’s stock valued at $44,964,000 after buying an additional 501,677 shares in the last quarter. Hedge funds and other institutional investors own 93.20% of the company’s stock.

Varonis Systems Company Profile

(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.

Further Reading

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