Strs Ohio Decreases Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Strs Ohio cut its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) by 48.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,700 shares of the technology company’s stock after selling 5,300 shares during the quarter. Strs Ohio’s holdings in Varonis Systems were worth $151,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in Varonis Systems in the 2nd quarter worth about $30,000. Ellevest Inc. increased its holdings in Varonis Systems by 586.0% in the 2nd quarter. Ellevest Inc. now owns 1,228 shares of the technology company’s stock worth $36,000 after acquiring an additional 1,049 shares during the last quarter. Private Trust Co. NA purchased a new stake in Varonis Systems in the 2nd quarter worth about $44,000. Harbor Investment Advisory LLC increased its holdings in Varonis Systems by 59.4% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,776 shares of the technology company’s stock worth $52,000 after acquiring an additional 662 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in Varonis Systems by 35.9% in the 1st quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock worth $66,000 after acquiring an additional 366 shares during the last quarter. 90.72% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $25.72 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.38 and a current ratio of 4.38. Varonis Systems, Inc. has a fifty-two week low of $15.61 and a fifty-two week high of $51.60. The stock has a 50 day moving average price of $22.74 and a two-hundred day moving average price of $25.45. The company has a market capitalization of $2.83 billion, a P/E ratio of -20.25 and a beta of 0.89.

Varonis Systems (NASDAQ:VRNSGet Rating) last announced its quarterly earnings data on Monday, October 31st. The technology company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Varonis Systems had a negative net margin of 30.31% and a negative return on equity of 24.11%. The company had revenue of $123.31 million during the quarter, compared to the consensus estimate of $124.63 million. Analysts expect that Varonis Systems, Inc. will post -0.99 earnings per share for the current year.

Insider Activity

In related news, Director Ofer Segev sold 1,500 shares of the company’s stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $23.78, for a total value of $35,670.00. Following the sale, the director now directly owns 72,410 shares of the company’s stock, valued at $1,721,909.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Avrohom J. Kess bought 1,650 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were acquired at an average cost of $17.46 per share, with a total value of $28,809.00. Following the completion of the acquisition, the director now owns 10,460 shares of the company’s stock, valued at approximately $182,631.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ofer Segev sold 1,500 shares of the business’s stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $23.78, for a total value of $35,670.00. Following the completion of the sale, the director now directly owns 72,410 shares in the company, valued at $1,721,909.80. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 100,335 shares of company stock valued at $1,782,197. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on VRNS. Truist Financial decreased their price objective on Varonis Systems from $40.00 to $35.00 in a report on Monday, January 9th. Craig Hallum lowered Varonis Systems from a “buy” rating to a “hold” rating and reduced their target price for the company from $35.00 to $22.00 in a report on Tuesday, November 1st. Cowen reduced their target price on Varonis Systems from $53.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, November 1st. StockNews.com initiated coverage on Varonis Systems in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Piper Sandler lifted their price target on Varonis Systems from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, January 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.19.

Varonis Systems Profile

(Get Rating)

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; strategic and product plans; and other intellectual property.

See Also

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Institutional Ownership by Quarter for Varonis Systems (NASDAQ:VRNS)

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