Varonis Systems (NASDAQ:VRNS) Price Target Cut to $35.00 by Analysts at Wells Fargo & Company

Varonis Systems (NASDAQ:VRNS – Get Rating) had its price objective lowered by Wells Fargo & Company from $40.00 to $35.00 in a research report sent to investors on Tuesday morning, The Fly reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the stock. Truist Financial decreased their price target on shares of Varonis Systems from $65.00 to $50.00 in a research report on Tuesday, May 10th. Morgan Stanley cut shares of Varonis Systems from an overweight rating to an equal weight rating and set a $35.00 price objective for the company. in a research report on Monday, June 27th. Piper Sandler cut their price target on shares of Varonis Systems from $45.00 to $37.00 and set an overweight rating on the stock in a research note on Tuesday. Barclays cut their price target on shares of Varonis Systems from $36.00 to $32.00 and set an equal weight rating on the stock in a research note on Tuesday. Finally, Summit Insights restated a buy rating on shares of Varonis Systems in a research note on Monday, May 2nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $45.25.

Varonis Systems Stock Down 0.9 %

VRNS stock opened at $29.96 on Tuesday. The company has a market cap of $3.28 billion, a price-to-earnings ratio of -24.36 and a beta of 1.17. The company has a current ratio of 4.34, a quick ratio of 4.61 and a debt-to-equity ratio of 0.47. Varonis Systems has a 12 month low of $24.58 and a 12 month high of $73.46. The firm has a 50-day moving average of $30.28 and a two-hundred day moving average of $36.92.

Insider Activity

In other Varonis Systems news, Director Avrohom J. Kess purchased 2,400 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average cost of $29.95 per share, with a total value of $71,880.00. Following the completion of the acquisition, the director now directly owns 8,810 shares of the company’s stock, valued at approximately $263,859.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 stock was sold at an average price of $33.07, for a total transaction of $294,554.49. Following the completion of the sale, the vice president now directly owns 161,722 shares of the company’s stock, valued at approximately $5,348,146.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Avrohom J. Kess purchased 2,400 shares of the stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $29.95 per share, with a total value of $71,880.00. Following the completion of the purchase, the director now owns 8,810 shares in the company, valued at $263,859.50. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Varonis Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Main Street Financial Solutions LLC boosted its position in Varonis Systems by 6.1% during the 4th quarter. Main Street Financial Solutions LLC now owns 5,253 shares of the technology company’s stock worth $256,000 after acquiring an additional 300 shares during the last quarter. Mackenzie Financial Corp boosted its position in Varonis Systems by 5.6% during the 1st quarter. Mackenzie Financial Corp now owns 6,103 shares of the technology company’s stock worth $290,000 after acquiring an additional 325 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Varonis Systems by 116.7% in the 1st quarter. Quadrant Capital Group LLC now owns 622 shares of the technology company’s stock valued at $30,000 after buying an additional 335 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Varonis Systems by 35.9% in the 1st quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock valued at $66,000 after buying an additional 366 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in shares of Varonis Systems by 2.2% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 18,700 shares of the technology company’s stock valued at $912,000 after buying an additional 400 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors and hedge funds.

About Varonis Systems

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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.