Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Varonis Systems Inc shares valued at $985,530 were sold by Iohan Gili on Feb 29 ’24. At $50.54 per share, Iohan Gili sold 19,500 shares. The insider’s holdings dropped to 19,263 shares worth approximately $0.84 million following the completion of this transaction.
Also, Kess Avrohom J. purchased 230 shares, netting a total of over 11,902 in proceeds. Following the buying of shares at $51.75 each, the insider now holds 23,262 shares.
Before that, Bass David had sold 13,675 shares from its account. In a trade valued at $705,338, the EVP Engineering and CTO traded Varonis Systems Inc shares for $51.58 each. Upon closing the transaction, the insider’s holdings decreased to 13,675 shares, worth approximately $27.76 million.
As published in a research note from Wedbush on February 06, 2024, Varonis Systems Inc [VRNS] has been rated up from a Neutral to an Outperform and the price target has been revised to $65 from $35. Analysts at DA Davidson downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid January. As of December 15, 2023, Susquehanna has initiated its “Positive” rating for VRNS. Earlier on October 27, 2023, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for VRNS stock which previously was a “an Underweight”.
Analyzing VRNS Stock Performance
During the last five days, there has been a drop of approximately -4.52%. Over the course of the year, Varonis Systems Inc shares have dropped approximately -3.91%. Shares of the company reached a 52-week high of $52.88 on 03/04/24 and a 52-week low of $42.26 on 01/05/24. A 50-day SMA is recorded $48.35, while a 200-day SMA reached $38.65. Nevertheless, trading volume fell to 0.7 million shares from 1.16 million shares the previous day.
Support And Resistance Levels for Varonis Systems Inc (VRNS)
According to the 24-hour chart, there is a support level at 43.05, which, if violated, would cause prices to drop to 42.59. In the upper region, resistance lies at 44.15. The next price resistance is at 44.79. RSI (Relative Strength Index) is 34.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.31, which suggests the price will decrease in the coming days. Percent R is at 84.18%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
