Varonis Systems Inc (NASDAQ:VRNS) Short Interest Update

Varonis Systems Inc (NASDAQ:VRNS) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,249,649 shares, a growth of 41.6% from the February 28th total of 882,769 shares. Approximately 4.4% of the shares of the company are short sold. Based on an average trading volume of 515,730 shares, the short-interest ratio is presently 2.4 days.

VRNS traded up $0.07 during midday trading on Monday, hitting $62.75. The stock had a trading volume of 212,139 shares, compared to its average volume of 452,434. The firm has a market cap of $1.88 billion, a P/E ratio of -64.03 and a beta of 0.96. Varonis Systems has a 1 year low of $48.67 and a 1 year 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.11. Varonis Systems had a negative return on equity of 24.02% and a negative net margin of 10.57%. The business had revenue of $87.52 million during the quarter, compared to analyst estimates of $87.33 million. As a group, equities research analysts anticipate that Varonis Systems will post -1.16 EPS for the current year.

In related news, CEO Yakov Faitelson sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $54.72, for a total value of $1,641,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in VRNS. Mondrian Capital Management LLC bought a new position in shares of Varonis Systems during the fourth quarter valued at approximately $53,000. Psagot Investment House Ltd. raised its holdings in shares of Varonis Systems by 32.0% during the fourth quarter. Psagot Investment House Ltd. now owns 1,061 shares of the technology company’s stock valued at $56,000 after acquiring an additional 257 shares in the last quarter. NumerixS Investment Technologies Inc raised its holdings in shares of Varonis Systems by 257.1% during the fourth quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the technology company’s stock valued at $133,000 after acquiring an additional 1,800 shares in the last quarter. Amalgamated Bank bought a new position in shares of Varonis Systems during the fourth quarter valued at approximately $218,000. Finally, Stone Ridge Asset Management LLC bought a new position in shares of Varonis Systems during the fourth quarter valued at approximately $228,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

A number of equities research analysts recently issued reports on VRNS shares. DA Davidson lowered their price objective on Varonis Systems to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, February 12th. Jefferies Financial Group restated a “buy” rating and issued a $73.00 price objective (down from $81.00) on shares of Varonis Systems in a research note on Tuesday, February 12th. Robert W. Baird restated a “buy” rating and issued a $60.00 price objective (down from $75.00) on shares of Varonis Systems in a research note on Tuesday, February 12th. BidaskClub upgraded Varonis Systems from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Finally, Craig Hallum upgraded Varonis Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.86.

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About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

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