Varonis Systems Inc’s recently made public that its Director Iohan Gili unloaded Company’s shares for reported $0.99 million on Feb 29 ’24. In the deal valued at $50.54 per share,19,500 shares were sold. As a result of this transaction, Iohan Gili now holds 19,263 shares worth roughly $0.92 million.
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Then, Kess Avrohom J. bought 230 shares, generating $11,902 in total proceeds. Upon buying the shares at $51.75, the Director now owns 23,262 shares.
Before that, Bass David sold 13,675 shares. Varonis Systems Inc shares valued at $705,338 were divested by the EVP Engineering and CTO at a price of $51.58 per share. As a result of the transaction, Bass David now holds 637,997 shares, worth roughly $30.37 million.
Wedbush upgraded its Varonis Systems Inc [VRNS] rating to an Outperform from a a Neutral in a research note published on February 06, 2024; the price target was increased to $65 from $35. A number of analysts have revised their coverage, including DA Davidson’s analysts, who decreased its forecast for the stock in mid January from “a Buy” to “a Neutral”. Susquehanna began covering VRNS with “Positive” recommendation on December 15, 2023. JP Morgan revised its rating on October 27, 2023. It rated VRNS as “a Neutral” which previously was an “an Underweight”.
Price Performance Review of VRNS
On Monday, Varonis Systems Inc [NASDAQ:VRNS] saw its stock fall -0.77% to $47.60. Over the last five days, the stock has lost -3.15%. Varonis Systems Inc shares have risen nearly 5.12% since the year began. Nevertheless, the stocks have risen 81.82% over the past one year. While a 52-week high of $52.88 was reached on 03/04/24, a 52-week low of $22.34 was recorded on 01/05/24. SMA at 50 days reached $48.20, while 200 days put it at $37.05. A total of 0.5 million shares were traded, compared to the trading of 0.95 million shares in the previous session.
Levels Of Support And Resistance For VRNS Stock
The 24-hour chart illustrates a support level at 47.43, which if violated will result in even more drops to 47.26. On the upside, there is a resistance level at 47.91. A further resistance level may holdings at 48.22. The Relative Strength Index (RSI) on the 14-day chart is 41.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.99, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.32%. Stochastics %K at 19.67% indicates the stock is a buying.
How much short interest is there in Varonis Systems Inc?
A steep rise in short interest was recorded in Varonis Systems Inc stocks on Feb 29, 2024, dropping by -0.3 million shares to a total of 6.3 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 6.6 million shares. There was a decline of -4.76%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.60% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.
