Varonis Systems Inc. (NASDAQ:) CEO, President, and Chairman Yakov Faitelson has sold a significant portion of his holdings in the company, according to a recent SEC filing. On May 9 and 10, Faitelson sold a total of 284,211 shares at prices ranging from $44.5342 to $45.2321, netting approximately $14,968,919.
The transactions come alongside Faitelson’s acquisition of shares through the exercise of stock options. On the same days, he acquired 71415 shares at $7.00, 4374 shares at $9.96, and 12543 shares at $5.6233, amounting to a total of $3,168,198. These exercised options were vested over various schedules, becoming fully exercisable on dates ranging from August 7, 2018, to March 17, 2021.
The CEO’s transactions reflect a mix of exercises of stock options and subsequent sales of the acquired shares. The filing also notes that Faitelson undertakes to provide full information regarding the number of shares sold at each separate price within the ranges set forth in the filing upon request.
Investors and market watchers often look to insider buying and selling as indicators of a company’s financial health and future prospects. In the case of Varonis Systems, these transactions by a top executive may be of particular interest.
Varonis Systems specializes in services and software for data security and analytics, operating within the prepackaged software industry. The company, incorporated in Delaware with a fiscal year ending on December 31, is headquartered in New York City.
For more detailed information, investors can refer to the full SEC Form 4 filing.
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InvestingPro Insights
Amidst the recent insider transactions by Varonis Systems Inc. (NASDAQ:VRNS) CEO Yakov Faitelson, a closer look at the company’s financial metrics and market performance offers additional context for investors. Varonis Systems, recognized for its robust data security and analytics services, stands out with an impressive gross profit margin of 85.08% as of the last twelve months leading up to Q1 2024. This figure underscores the company’s efficiency in managing its cost of goods sold and its ability to generate significant revenue from its sales.
Moreover, the company holds a strong liquidity position, with liquid assets that exceed its short-term obligations. This financial stability is a positive sign for stakeholders, as it suggests Varonis has the resources to meet its immediate financial commitments. Despite not being profitable over the past twelve months, analysts predict Varonis will turn a profit this year, indicating potential for improved financial performance.
InvestingPro Tips for Varonis Systems also highlight that the company holds more cash than debt on its balance sheet, providing it with a solid foundation to navigate economic shifts and invest in growth opportunities. Additionally, the company’s stock has experienced a high return over the last year, with a 1 Year Price Total Return of 85.3%, reflecting investor confidence and market reward for the company’s performance.
For investors seeking further insights and analysis, there are 12 additional InvestingPro Tips available for Varonis Systems at InvestingPro. These tips provide a deeper dive into the company’s valuation, market trends, and potential investment opportunities. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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