Monday, March 05, 2018 10:15 PM ET
Insider Sales at Varonis Systems (VRNS) Deemed Significant
There was a significant level of insider selling revealed today in filings with the SEC for Varonis Systems. Two insiders — Yakov Faitelson, Director and Officer, and James O’Boyle, Officer — sold 159,359 shares in the company for approximately $8,982,073. These are the first insider buy/sell trades in the past 90 days. Adding the most recent activity to this 90-day history indicates insider trades have averaged 79,680 shares per transaction.
Varonis Systems insider trading represents a level of buy/sell trades that is below for the 64 peer company average over the last 90-day period. The Enterprise Software peer group saw 160 buy/sell trades during this period for an average of 2.5 transactions per company. However, the number of shares per buy/sell trade for Varonis Systems is higher. Within the peer group there were 551,162 shares purchased and 8,115,328 shares sold with company insiders selling 47,276 shares on average.
In order to focus on significant insider buying and selling activity, all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers has been eliminated data obtained to evaluate and write this story.
Today’s Insider Activity
* Yakov Faitelson, Director and Officer, sold 120,250 shares
* James O’Boyle, Officer, sold 39,109 shares
Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.
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