Arizona State Retirement System Decreases Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Arizona State Retirement System lowered its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 30,652 shares of the technology company’s stock after selling 586 shares during the quarter. Arizona State Retirement System’s holdings in Varonis Systems were worth $1,388,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Raymond James & Associates boosted its holdings in Varonis Systems by 24.7% in the 1st quarter. Raymond James & Associates now owns 41,783 shares of the technology company’s stock worth $1,986,000 after acquiring an additional 8,272 shares during the period. Bank of New York Mellon Corp boosted its holdings in Varonis Systems by 3.9% in the 1st quarter. Bank of New York Mellon Corp now owns 495,160 shares of the technology company’s stock worth $23,540,000 after acquiring an additional 18,813 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Varonis Systems by 91.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,096 shares of the technology company’s stock worth $99,000 after acquiring an additional 1,003 shares during the period. MetLife Investment Management LLC boosted its holdings in Varonis Systems by 56.9% in the 1st quarter. MetLife Investment Management LLC now owns 56,965 shares of the technology company’s stock worth $2,708,000 after acquiring an additional 20,660 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Varonis Systems by 0.7% in the 1st quarter. Rhumbline Advisers now owns 112,981 shares of the technology company’s stock worth $5,371,000 after acquiring an additional 811 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Insiders Place Their Bets

In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the sale, the director now directly owns 75,682 shares of the company’s stock, valued at $3,945,302.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the sale, the director now directly owns 75,682 shares of the company’s stock, valued at $3,945,302.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Guy Melamed sold 188,503 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.88, for a total value of $9,402,529.64. Following the completion of the sale, the chief financial officer now directly owns 645,876 shares in the company, valued at $32,216,294.88. The disclosure for this sale can be found here. Insiders have sold 372,419 shares of company stock valued at $18,571,413 over the last three months. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

VRNS has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and issued a $63.00 price target on shares of Varonis Systems in a report on Monday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $56.00 price target on shares of Varonis Systems in a report on Friday, March 15th. JPMorgan Chase & Co. upped their target price on Varonis Systems from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Truist Financial reaffirmed a “buy” rating and issued a $55.00 target price (up from $50.00) on shares of Varonis Systems in a research report on Wednesday, March 13th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $45.00 target price (up from $37.00) on shares of Varonis Systems in a research report on Thursday, January 18th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.81.

Varonis Systems Stock Performance

VRNS stock opened at $44.52 on Friday. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.51. The firm has a market cap of $4.86 billion, a P/E ratio of -48.39 and a beta of 0.85. Varonis Systems, Inc. has a 12-month low of $22.34 and a 12-month high of $52.88. The stock’s 50 day simple moving average is $48.58 and its 200 day simple moving average is $42.59.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. The business had revenue of $154.10 million for the quarter, compared to analyst estimates of $151.64 million. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. As a group, equities research analysts predict that Varonis Systems, Inc. will post -0.96 EPS for the current year.

Varonis Systems Company Profile

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; source code, strategic and product plans; and other intellectual property.