Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,746 shares of the technology company’s stock after selling 8,855 shares during the quarter. Raymond James & Associates owned 0.06% of Varonis Systems worth $3,068,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Legato Capital Management LLC increased its holdings in Varonis Systems by 74.2% in the 4th quarter. Legato Capital Management LLC now owns 13,300 shares of the technology company’s stock worth $602,000 after acquiring an additional 5,665 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Varonis Systems by 16.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 20,965 shares of the technology company’s stock worth $949,000 after purchasing an additional 2,955 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Varonis Systems by 13.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 43,411 shares of the technology company’s stock worth $1,966,000 after purchasing an additional 5,117 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Varonis Systems by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 11,251,092 shares of the technology company’s stock worth $343,608,000 after purchasing an additional 180,082 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Varonis Systems by 25.6% in the 3rd quarter. Wellington Management Group LLP now owns 476,861 shares of the technology company’s stock valued at $14,563,000 after buying an additional 97,301 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $56.00 target price on shares of Varonis Systems in a report on Friday, March 15th. Robert W. Baird raised their price objective on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Citigroup upped their target price on shares of Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Stephens reissued an “overweight” rating and issued a $55.00 price target on shares of Varonis Systems in a research note on Tuesday, February 6th. Finally, Wells Fargo & Company upped their price objective on shares of Varonis Systems from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.81.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $44.52 on Friday. The stock has a market cap of $4.86 billion, a PE ratio of -48.39 and a beta of 0.85. Varonis Systems, Inc. has a twelve month low of $22.34 and a twelve month high of $52.88. The stock has a fifty day simple moving average of $48.58 and a 200-day simple moving average of $42.59. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.51.

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

Insider Buying and Selling at Varonis Systems

In other news, Director Ofer Segev sold 5,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.13, for a total transaction of $260,650.00. Following the completion of the transaction, the director now directly owns 75,682 shares in the company, valued at $3,945,302.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Gili Iohan sold 19,500 shares of Varonis Systems stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the completion of the transaction, the director now owns 19,263 shares in the company, valued at $973,552.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ofer Segev sold 5,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $52.13, for a total transaction of $260,650.00. Following the sale, the director now owns 75,682 shares in the company, valued at $3,945,302.66. The disclosure for this sale can be found here. Insiders have sold a total of 372,419 shares of company stock valued at $18,571,413 over the last quarter. 2.40% of the stock is owned by company insiders.

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.