Mutual of America Capital Management LLC Reduces Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Mutual of America Capital Management LLC decreased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 84,024 shares of the technology company’s stock after selling 3,841 shares during the period. Mutual of America Capital Management LLC’s holdings in Varonis Systems were worth $3,805,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new stake in Varonis Systems in the first quarter worth $26,000. Point72 Hong Kong Ltd purchased a new position in Varonis Systems during the second quarter valued at $30,000. Captrust Financial Advisors lifted its position in Varonis Systems by 35.9% during the first quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock valued at $66,000 after buying an additional 366 shares during the period. Comerica Bank purchased a new position in Varonis Systems during the third quarter valued at $43,000. Finally, International Assets Investment Management LLC lifted its position in Varonis Systems by 1,779.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after buying an additional 1,886 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wedbush raised Varonis Systems from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $35.00 to $65.00 in a research report on Tuesday, February 6th. Stephens reissued an “overweight” rating and set a $55.00 price objective on shares of Varonis Systems in a research report on Tuesday, February 6th. Royal Bank of Canada reissued an “outperform” rating and set a $56.00 price objective on shares of Varonis Systems in a research report on Friday, March 15th. Piper Sandler lifted their price target on Varonis Systems from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Finally, Wells Fargo & Company lifted their price target on Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.81.

Varonis Systems Stock Up 2.4 %

NASDAQ VRNS opened at $43.96 on Wednesday. The stock has a 50-day moving average of $48.44 and a 200 day moving average of $42.94. Varonis Systems, Inc. has a one year low of $22.34 and a one year high of $52.88. 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 released its quarterly earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) 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 the consensus estimate 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, analysts forecast that Varonis Systems, Inc. will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 75,682 shares in the company, valued at approximately $3,945,302.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 75,682 shares in the company, valued at approximately $3,945,302.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Guy Melamed sold 188,503 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.88, for a total value of $9,402,529.64. Following the sale, the chief financial officer now owns 645,876 shares of the company’s stock, valued at $32,216,294.88. The disclosure for this sale can be found here. Insiders sold a total of 372,419 shares of company stock worth $18,571,413 in the last three months. 2.40% of the stock is currently owned by company insiders.

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