Varonis Systems, Inc. Authorizes $100 Million Share Repurchase Program

Varonis Systems authorized a $100 million share repurchase program expected to complete in 12 months, enhancing shareholder value.

Quiver AI Summary

Varonis Systems, Inc. announced a share repurchase program authorized by its board of directors, permitting the company to buy back up to $100 million of its common stock over the next year. The repurchases may occur through open market purchases or private transactions and will be influenced by Varonis’ trading conditions and market factors. The press release includes forward-looking statements about potential risks and uncertainties that could affect the company's performance and success in its data security market. Varonis, recognized for its comprehensive data security solutions, emphasizes its commitment to protecting critical data across various environments.

Potential Positives

• Varonis Systems' board of directors authorized a substantial share repurchase program of up to $100 million, demonstrating confidence in the company's future and potentially increasing shareholder value.
• The share repurchase program allows for flexible purchasing methods, which can be advantageous for capitalizing on favorable market conditions.
• The program is expected to be completed over the next 12 months, indicating a long-term commitment to enhancing shareholder returns.
• As a leader in data security with a strong technological platform, Varonis positions itself uniquely in the cybersecurity market, which may attract more investors and boost confidence in its growth trajectory.

Potential Negatives

• The authorization of a $100 million share repurchase program may suggest the company lacks better investment opportunities for growth, which could signal stagnation or limited future prospects.
• The extensive list of potential risks associated with the company’s future performance, including cybersecurity threats and international operational challenges, may raise concerns among investors about the stability and future earnings of Varonis.
• The reliance on forward-looking statements that carry inherent uncertainties and risks may lead investors to question the company's ability to predict and manage its future performance effectively.

FAQ

What is Varonis Systems' new share repurchase program?

Varonis Systems has announced a share repurchase program authorized for up to $100 million of its common stock over the next 12 months.

How will Varonis execute the share repurchase?

The repurchase can occur through open market purchases, privately-negotiated transactions, and according to federal securities laws and trading plans.

What factors will influence Varonis' share repurchase timing?

The timing of share purchases will depend on trading windows, available liquidity, and business and market conditions.

Are there any risks associated with Varonis' forward-looking statements?

Yes, forward-looking statements involve risks and uncertainties that may lead actual results to differ significantly from expectations.

What products and services does Varonis provide?

Varonis offers a cloud-native Data Security Platform focusing on data security posture management, data classification, access governance, and more.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$VRNS Insider Trading Activity

$VRNS insiders have traded $VRNS stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $VRNS stock by insiders over the last 6 months:

• GUY MELAMED (CFO and COO) has made 0 purchases and 2 sales selling 91,345 shares for an estimated $4,905,444.
• JAMES O'BOYLE (Vice Chairman - Sales) sold 50,000 shares for an estimated $2,988,000

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$VRNS Hedge Fund Activity

We have seen 172 institutional investors add shares of $VRNS stock to their portfolio, and 159 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• CADIAN CAPITAL MANAGEMENT, LP removed 3,801,242 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $214,770,173
• GREENVALE CAPITAL LLP added 1,400,000 shares (+inf%) to their portfolio in Q3 2024, for an estimated $79,100,000
• DRIEHAUS CAPITAL MANAGEMENT LLC added 1,349,464 shares (+inf%) to their portfolio in Q3 2024, for an estimated $76,244,716
• FMR LLC removed 1,160,952 shares (-37.5%) from their portfolio in Q3 2024, for an estimated $65,593,788
• ASSENAGON ASSET MANAGEMENT S.A. added 995,274 shares (+761.6%) to their portfolio in Q4 2024, for an estimated $44,220,023
• LORD, ABBETT & CO. LLC added 859,025 shares (+67.7%) to their portfolio in Q3 2024, for an estimated $48,534,912
• GOLDMAN SACHS GROUP INC added 634,163 shares (+52.9%) to their portfolio in Q3 2024, for an estimated $35,830,209

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

MIAMI, Feb. 10, 2025 (GLOBE NEWSWIRE) --

Varonis Systems, Inc.

(Nasdaq: VRNS), a leader in data security, announced that its board of directors authorized a share repurchase program allowing repurchases of up to $100.0 million of Varonis’ common stock expected to be completed over the next 12 months.

Under the share repurchase program, Varonis is authorized to repurchase shares through open market purchases, privately-negotiated transactions or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act. The number of shares to be purchased and the timing of purchases will be based on Varonis’ trading windows, available liquidity, and general business and market conditions.

Forward-Looking Statements

This press release contains "forward-looking" statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance but are based on management's expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the following: the impact of potential information technology, cybersecurity or data security breaches; risks associated with anticipated growth in Varonis’ addressable market; general economic and industry conditions, such as foreign currency exchange rate fluctuations and expenditure trends for data and cybersecurity solutions; Varonis’ ability to predict the timing and rate of subscription renewals and their impact on the Company’s future revenues and operating results; risks associated with international operations; the impact of global conflicts on the budgets of our clients and on economic conditions generally; competitive factors, including increased sales cycle time, changes in the competitive environment, pricing changes and increased competition; the risk that Varonis may not be able to attract or retain employees, including sales personnel and engineers; Varonis’ ability to build and expand its direct sales efforts and reseller distribution channels; risks associated with the closing of large transactions, including Varonis’ ability to close large transactions consistently on a quarterly basis; new product introductions and Varonis’ ability to develop and deliver innovative products; Varonis’ ability to provide high-quality service and support offerings; the expansion of cloud-delivered services; and risks associated with our convertible notes and capped-call transactions. These and other important risk factors are described more fully in Varonis’ reports and other documents filed with the Securities and Exchange Commission and could cause actual results to vary from expectations. All information provided in this press release is as of the date hereof, and Varonis undertakes no duty to update or revise this information, whether as a result of new information, new developments or otherwise, except as required by law.

About Varonis

Varonis (Nasdaq: VRNS) is a leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.

Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), and insider risk management.

Varonis protects data first, not last. Learn more at

www.varonis.com

.

Investor Relations Contact:



Tim Perz


Varonis Systems, Inc.


646-640-2112



investors@varonis.com

News Media Contact:



Rachel Hunt


Varonis Systems, Inc.


877-292-8767 (ext. 1598)



pr@varonis.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.