Varonis Systems, Inc. (NASDAQ:VRNS) Holdings Trimmed by Verition Fund Management LLC

Verition Fund Management LLC reduced its position in shares of Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) by 50.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,921 shares of the technology company’s stock after selling 13,191 shares during the period. Verition Fund Management LLC’s holdings in Varonis Systems were worth $343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRNS. William Blair Investment Management LLC grew its stake in shares of Varonis Systems by 15.8% in the 2nd quarter. William Blair Investment Management LLC now owns 5,236,962 shares of the technology company’s stock worth $153,548,000 after purchasing an additional 713,015 shares during the last quarter. Clearbridge Investments LLC grew its position in Varonis Systems by 11.6% in the first quarter. Clearbridge Investments LLC now owns 3,468,690 shares of the technology company’s stock worth $164,902,000 after buying an additional 360,921 shares during the last quarter. Pictet Asset Management SA increased its holdings in shares of Varonis Systems by 9.9% in the second quarter. Pictet Asset Management SA now owns 3,412,935 shares of the technology company’s stock valued at $100,067,000 after buying an additional 307,947 shares in the last quarter. Tremblant Capital Group lifted its position in shares of Varonis Systems by 32.0% during the 3rd quarter. Tremblant Capital Group now owns 3,185,723 shares of the technology company’s stock valued at $84,485,000 after acquiring an additional 772,318 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Varonis Systems by 0.6% during the 2nd quarter. State Street Corp now owns 2,310,398 shares of the technology company’s stock worth $67,741,000 after acquiring an additional 14,357 shares in the last quarter. 90.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Guy Melamed purchased 24,400 shares of the company’s stock in a transaction dated Thursday, December 8th. The shares were bought at an average price of $20.50 per share, with a total value of $500,200.00. Following the completion of the transaction, the chief financial officer now directly owns 490,351 shares in the company, valued at approximately $10,052,195.50. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Ofer Segev sold 1,500 shares of the business’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $23.78, for a total transaction of $35,670.00. Following the completion of the transaction, the director now owns 72,410 shares of the company’s stock, valued at approximately $1,721,909.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed bought 24,400 shares of the stock in a transaction on Thursday, December 8th. The stock was acquired at an average cost of $20.50 per share, for a total transaction of $500,200.00. Following the acquisition, the chief financial officer now directly owns 490,351 shares in the company, valued at $10,052,195.50. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Varonis Systems Stock Performance

Varonis Systems stock opened at $27.08 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.96 and a current ratio of 3.96. Varonis Systems, Inc. has a 1-year low of $15.61 and a 1-year high of $51.60. The firm’s fifty day simple moving average is $26.08 and its 200-day simple moving average is $24.97.

Varonis Systems (NASDAQ:VRNSGet Rating) last posted its earnings results on Monday, February 6th. The technology company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. The company had revenue of $142.62 million for the quarter, compared to analyst estimates of $140.58 million. Varonis Systems had a negative return on equity of 23.10% and a negative net margin of 26.29%. On average, equities research analysts expect that Varonis Systems, Inc. will post -0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Truist Financial cut their target price on Varonis Systems from $40.00 to $35.00 in a research report on Monday, January 9th. Barclays boosted their price objective on Varonis Systems from $26.00 to $29.00 in a report on Tuesday, February 7th. Wells Fargo & Company lifted their target price on shares of Varonis Systems from $24.00 to $26.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 7th. William Blair reiterated an “outperform” rating on shares of Varonis Systems in a research report on Tuesday, February 7th. Finally, Jefferies Financial Group cut Varonis Systems from a “buy” rating to a “hold” rating and decreased their target price for the stock from $30.00 to $26.00 in a research report on Thursday, January 5th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.76.

Varonis Systems Profile

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Varonis Systems, Inc engages in protecting enterprise data such as sensitive files and emails, confidential customer, patient, and employee data, financial records, strategic and product plans, and other intellectual property. It operates through the following geographical segments: North America, EMEA, and Rest of the World.

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

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