Varonis Systems (NASDAQ:VRNS) Price Target Increased to $45.00 by Analysts at Wells Fargo & Company

Varonis Systems (NASDAQ:VRNSFree Report) had its price target upped by Wells Fargo & Company from $42.00 to $45.00 in a research note released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

Several other research analysts have also recently issued reports on the company. TheStreet upgraded Varonis Systems from a d+ rating to a c- rating in a research note on Monday, November 13th. Barclays upgraded Varonis Systems from an equal weight rating to an overweight rating and raised their price objective for the stock from $35.00 to $37.00 in a research note on Friday, October 13th. Morgan Stanley raised their price objective on Varonis Systems from $42.00 to $45.00 and gave the stock an overweight rating in a research note on Tuesday, November 14th. William Blair restated an outperform rating on shares of Varonis Systems in a research note on Tuesday, October 31st. Finally, Wedbush upgraded Varonis Systems from a neutral rating to an outperform rating and raised their price objective for the stock from $35.00 to $65.00 in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $48.40.

Read Our Latest Stock Report on Varonis Systems

Varonis Systems Trading Up 2.5 %

Varonis Systems stock opened at $51.98 on Tuesday. The stock has a 50-day moving average of $45.32 and a two-hundred day moving average of $36.96. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.57 and a current ratio of 2.50. Varonis Systems has a one year low of $22.34 and a one year high of $52.30. The stock has a market cap of $5.67 billion, a PE ratio of -56.50 and a beta of 0.83.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, SVP James O’boyle sold 4,098 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.50, for a total value of $186,459.00. Following the sale, the senior vice president now directly owns 460,061 shares of the company’s stock, valued at $20,932,775.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP James O’boyle sold 4,098 shares of Varonis Systems stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.50, for a total value of $186,459.00. Following the sale, the senior vice president now directly owns 460,061 shares of the company’s stock, valued at $20,932,775.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dov Gottlieb sold 43,091 shares of Varonis Systems stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total value of $2,069,229.82. Following the completion of the sale, the vice president now directly owns 227,654 shares in the company, valued at $10,931,945.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 265,052 shares of company stock valued at $13,027,822. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Varonis Systems

A number of institutional investors have recently made changes to their positions in VRNS. Raymond James & Associates boosted its stake in shares of Varonis Systems by 24.7% in the first quarter. Raymond James & Associates now owns 41,783 shares of the technology company’s stock worth $1,986,000 after acquiring an additional 8,272 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Varonis Systems by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 495,160 shares of the technology company’s stock worth $23,540,000 after acquiring an additional 18,813 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Varonis Systems by 91.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,096 shares of the technology company’s stock worth $99,000 after buying an additional 1,003 shares in the last quarter. MetLife Investment Management LLC lifted its position in Varonis Systems by 56.9% during the first quarter. MetLife Investment Management LLC now owns 56,965 shares of the technology company’s stock worth $2,708,000 after buying an additional 20,660 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Varonis Systems by 0.7% during the first quarter. Rhumbline Advisers now owns 112,981 shares of the technology company’s stock worth $5,371,000 after buying an additional 811 shares in the last quarter. 92.47% of the stock is 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.

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