Bank of New York Mellon Corp Buys 7,041 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Bank of New York Mellon Corp boosted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 527,729 shares of the technology company’s stock after purchasing an additional 7,041 shares during the period. Bank of New York Mellon Corp owned about 0.48% of Varonis Systems worth $14,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Global Investments bought a new position in Varonis Systems during the first quarter valued at approximately $231,000. Jump Financial LLC lifted its position in Varonis Systems by 96.8% during the first quarter. Jump Financial LLC now owns 136,621 shares of the technology company’s stock valued at $3,554,000 after purchasing an additional 67,203 shares during the period. SG Americas Securities LLC increased its holdings in Varonis Systems by 4.4% during the second quarter. SG Americas Securities LLC now owns 177,847 shares of the technology company’s stock valued at $4,740,000 after buying an additional 7,570 shares during the last quarter. Eagle Global Advisors LLC increased its holdings in Varonis Systems by 26.3% during the first quarter. Eagle Global Advisors LLC now owns 43,200 shares of the technology company’s stock valued at $1,124,000 after buying an additional 9,000 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in Varonis Systems by 13.1% during the second quarter. Inspire Investing LLC now owns 11,824 shares of the technology company’s stock valued at $315,000 after buying an additional 1,369 shares during the last quarter. Institutional investors own 92.47% of the company’s stock.

Insider Activity at Varonis Systems

In related news, EVP David Bass sold 150,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $33.00, for a total transaction of $4,950,000.00. Following the completion of the transaction, the executive vice president now directly owns 500,756 shares of the company’s stock, valued at $16,524,948. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Varonis Systems Stock Performance

VRNS opened at $38.05 on Thursday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -37.67 and a beta of 0.78. The company has a fifty day moving average of $31.97 and a 200 day moving average of $28.82. Varonis Systems, Inc. has a fifty-two week low of $19.48 and a fifty-two week high of $38.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.57 and a current ratio of 2.57.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler upped their target price on shares of Varonis Systems from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, August 1st. TheStreet raised shares of Varonis Systems from a “d+” rating to a “c-” rating in a report on Monday. JPMorgan Chase & Co. raised shares of Varonis Systems from an “underweight” rating to a “neutral” rating and upped their target price for the company from $27.00 to $35.00 in a report on Friday, October 27th. JMP Securities reaffirmed a “market outperform” rating and set a $63.00 target price on shares of Varonis Systems in a report on Wednesday, August 2nd. Finally, Morgan Stanley upped their target price on shares of Varonis Systems from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.31.

About Varonis Systems

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.