The SVP of Worldwide Sales of Varonis Systems (NASDAQ: VRNS) is Selling Shares

By Carrie Williams

Yesterday, the SVP of Worldwide Sales of Varonis Systems (VRNSResearch Report), James O’boyle, sold shares of VRNS for $7.21M.

Following James O’boyle’s last VRNS Sell transaction on August 06, 2020, the stock climbed by 28.4%. This is O’boyle’s first Sell trade following 4 Buy transactions.

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Based on Varonis Systems’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $88.42 million and GAAP net loss of -$32,948,000. In comparison, last year the company earned revenue of $66.57 million and had a GAAP net loss of $24.32 million. The company has a one-year high of $75.33 and a one-year low of $36.28. VRNS’s market cap is $7.35 billion and the company has a P/E ratio of -64.50.

Based on 10 analyst ratings, the analyst consensus is Strong Buy with an average price target of $72.90, reflecting a -4.5% downside.

In the last 30 days, insiders have sold $7.21M worth of VRNS shares and purchased $766K worth of VRNS shares.

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Varonis Systems, Inc. engages in providing data security and analytics. It operates through the following segments: United States, EMEA, and Rest of the World. Its products includes datadvantage, data classification engine, data transport engine, Varonis edge, datanswers, datalert, dataprivilege, automation engine, and GDPR patterns. The company was founded by Yaki Faitelson and Ohad Korkus on November 3, 2004 and is headquartered in New York, NY.