Varonis Systems, Inc. has seen a positive movement in its stock price following the announcement of its expanded data security coverage to Databricks. On December 3, 2024, Varonis revealed that it has broadened its capabilities to include the Databricks Data Intelligence Platform, which is widely used by global enterprises, including 60% of the Fortune 500. This integration allows Varonis to continuously discover and classify critical data, remove exposures, and detect threats, thereby enhancing the security posture of organizations using Databricks on AWS, Azure, and Google Cloud.
Additionally, BNP Paribas Financial Markets increased its stake in Varonis Systems by 31.7% during the third quarter, as disclosed on December 4, 2024. The firm now owns 81,191 shares, reflecting a significant boost in confidence from institutional investors. This increase in institutional ownership may have contributed to the positive sentiment around the stock.
Varonis Systems' stock is currently priced at $51.80, reflecting a 2.05% increase from the previous close of $50.76.