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Varonis Systems Inc [VRNS] Shares Fall -0.94 on Wednesday

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Varonis Systems Inc shares valued at $2,113,460 were sold by Faitelson Yakov on May 10 ’24. At $44.53 per share, Faitelson Yakov sold 47,457 shares. The insider’s holdings dropped to 1,452,922 shares worth approximately $69.13 million following the completion of this transaction.

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Also, Faitelson Yakov sold 284,211 shares, netting a total of over 12,855,460 in proceeds. Following the sale of shares at $45.23 each, the insider now holds 1,452,922 shares.

Before that, Iohan Gili had sold 19,500 shares from its account. In a trade valued at $985,530, the Director traded Varonis Systems Inc shares for $50.54 each. Upon closing the transaction, the insider’s holdings decreased to 19,500 shares, worth approximately $0.92 million.

As published in a research note from JP Morgan on June 14, 2024, Varonis Systems Inc [VRNS] has been rated up from a Neutral to an Overweight and the price target has been revised to $54 from $50. Analysts at Wedbush upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in early February. As of January 18, 2024, DA Davidson has decreased its “Buy” rating to a “Neutral” for VRNS. Earlier on December 15, 2023, Susquehanna initiated its rating. Their recommendation was “a Positive” for VRNS stock.

Analyzing VRNS Stock Performance

During the last five days, there has been a surge of approximately 9.51%. Over the course of the year, Varonis Systems Inc shares have jumped approximately 5.08%. Shares of the company reached a 52-week high of $52.88 on 03/04/24 and a 52-week low of $41.13 on 06/04/24. A 50-day SMA is recorded $44.18, while a 200-day SMA reached $42.58. Nevertheless, trading volume fell to 0.45 million shares from 1.06 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 47.73, which, if violated, would cause prices to drop to 47.46. In the upper region, resistance lies at 48.38. The next price resistance is at 48.76. RSI (Relative Strength Index) is 65.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.07, which suggests the price will increase in the coming days. Percent R is at 6.93%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.

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