Varonis Systems Target of Unusually Large Options Trading (VRNS)

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Varonis Systems Inc (NASDAQ:VRNS) was the recipient of some unusual options trading on Tuesday. Investors bought 2,631 call options on the company. This represents an increase of approximately 1,354% compared to the typical daily volume of 181 call options.

Shares of VRNS opened at $54.65 on Thursday. The firm has a market capitalization of $1.63 billion, a P/E ratio of -109.30 and a beta of 0.99. Varonis Systems has a twelve month low of $48.67 and a twelve month high of $83.10.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, February 11th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.11. The business had revenue of $87.52 million for the quarter, compared to analyst estimates of $87.33 million. Varonis Systems had a negative return on equity of 26.27% and a negative net margin of 11.53%. As a group, analysts predict that Varonis Systems will post -0.9 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. First Manhattan Co. raised its position in shares of Varonis Systems by 412.1% in the 3rd quarter. First Manhattan Co. now owns 8,015 shares of the technology company’s stock worth $587,000 after buying an additional 6,450 shares during the period. Credit Suisse AG raised its position in shares of Varonis Systems by 19.9% in the 3rd quarter. Credit Suisse AG now owns 883,279 shares of the technology company’s stock worth $64,701,000 after buying an additional 146,311 shares during the period. Chartwell Investment Partners LLC raised its position in shares of Varonis Systems by 2.2% in the 4th quarter. Chartwell Investment Partners LLC now owns 70,163 shares of the technology company’s stock worth $3,712,000 after buying an additional 1,481 shares during the period. AQR Capital Management LLC raised its position in shares of Varonis Systems by 14.4% in the 3rd quarter. AQR Capital Management LLC now owns 95,341 shares of the technology company’s stock worth $6,984,000 after buying an additional 12,015 shares during the period. Finally, Morgens Waterfall Vintiadis & Co. Inc. raised its position in shares of Varonis Systems by 5.6% in the 3rd quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 45,000 shares of the technology company’s stock worth $3,296,000 after buying an additional 2,400 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on VRNS. Barclays reiterated a “neutral” rating on shares of Varonis Systems in a report on Wednesday. Robert W. Baird reiterated a “buy” rating and set a $60.00 target price (down previously from $75.00) on shares of Varonis Systems in a report on Tuesday. DA Davidson lowered their target price on Varonis Systems to $62.00 and set a “buy” rating on the stock in a report on Tuesday. Royal Bank of Canada lowered their target price on Varonis Systems from $80.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Wedbush lowered their target price on Varonis Systems from $68.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Varonis Systems currently has a consensus rating of “Buy” and a consensus target price of $67.48.

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About Varonis Systems

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.

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