There has been some selling insider activity on Varonis Systems, Inc. (NASDAQ:VRNS) recently. James O’boyle, Sr VP sold $770,000 worth of shares at an average price of $38.50 on July 11th. The Sr VP now owns $5,551,277 of the stock as reported to the SEC. CTO Ohad Korkus sold 50,000 shares at a price of $38.06 on Tue the 11th. That brings Korkus’s holdings to $11,003,450 as recorded in a recent Form 4 SEC filing.
Gili Iohan, Director disclosed the sale of 10,000 shares. The shares were purchased at an average price of $38.00. The Director now owns $1,991,162 of the stock per the Form 4 SEC filing.
Varonis Systems, Inc. (Varonis), launched on November 3, 2004, provides a solutions that protect data from insider threats and cyberattacks. The Business’s products include DatAdvantage, DataPrivilege, Interface Data Unit (IDU) Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. The Business’s platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data. It specializes in file and e-mail systems that store valuable spreadsheets, word processing documents, presentations, audio and video files, e-mails and text. Its Metadata Framework is a technology platform that extracts metadata from an enterprise’s information technology (IT) infrastructure. Data often contains an enterprise’s financial information, product plans, strategic initiatives, intellectual property, and confidential employee, customer or patient records. IT and business personnel deploy its software for a range of use cases, including data security, governance and compliance, user behavior analytics, archiving, search, and file synchronization and sharing. The Business’s subsidiaries include Varonis Systems Ltd. (VSL), Varonis UK (VSUK), Varonis Systems (Deutschland) GmbH (VSG), Varonis France SAS (VSF) and Varonis Systems Corp. (VSC)..
These funds have also shifted positions in (VRNS). Bank Of Montreal /can/ added to its position by buying 92,338 shares an increase of 56,998.8% in the quarter. Bank Of Montreal /can/ controls 92,500 shares worth $3,441,000. The total value of its holdings increased 68,720.0%. As of quarter end Clearbridge Investments, LLC had bought a total of 12,590 shares growing its holdings by 2.4%. The value of the total investment in Varonis Systems, Inc. increased from $13,934,000 to $16,934,000 increasing 21.5% quarter over quarter.
Morgan Stanley trimmed its investment by selling 16 shares a decrease of 17.2%. Morgan Stanley claims 77 shares with a value of $2,000. The value of the position overall is down by 0.0%. Kingdom Ridge Capital, LLC bolstered its stake by buying 191,100 shares an increase of 189.2% from 06/30/2016 to 03/31/2017. Kingdom Ridge Capital, LLC now holds 292,100 shares valued at $9,289,000. The total value of its holdings increased 282.9%.
On June 21 the company was upgraded to “Equal-Weight” from “Underweight” by analysts at Morgan Stanley. July 15 investment analysts at Barclays kept the stock rating at “Equalweight” but raised the price target from $20.00 to $27.00.
On March 17 Barclays left the company rating at “Equal-weight” and raised the price target to $20.00 from $17.00. On February 10 Barclays left the stock rating at “Equalweight” and moved down the price target from $19.00 to $17.00.
On January 12 analysts at Brean Capital released its first research report on the stock by announcing an initial rating of “Buy” and price target of $25.00. On December 16, 2015 Lake Street Capital added VRNS to its research portfolio setting a rating of “Buy” and setting a price target of $25.00.
The company is so far trading up by 0.65 percent from yesterday’s close. It is trading at $39.00 marginally over the 50 day moving average of $36.22 and which is slightly above the 200 day moving average of $30.97. The 50 day moving average was up $2.78 and the 200 day average was up $8.03.
Traders are feeling more bullish recently as inferred by the motion in short interest. The stock realized a fall in short interest from June 15, 2017 to May 31, 2017 of -0.01%. Short interest decreased 64 over that period. With short interest at 432,243 and short average daily volume at 305,981, days to cover is 1.4 and the percentage of shorted shares was 0.02% on May 31.