Federated Hermes Inc. Sells 30,525 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Federated Hermes Inc. lowered its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 392,095 shares of the technology company’s stock after selling 30,525 shares during the period. Federated Hermes Inc. owned approximately 0.36% of Varonis Systems worth $17,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of VRNS. Strs Ohio grew its position in Varonis Systems by 61.4% in the fourth quarter. Strs Ohio now owns 11,300 shares of the technology company’s stock worth $511,000 after acquiring an additional 4,300 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Varonis Systems during the 4th quarter valued at about $219,000. Allspring Global Investments Holdings LLC lifted its position in Varonis Systems by 53.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 288,828 shares of the technology company’s stock worth $13,078,000 after buying an additional 100,324 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Varonis Systems by 1,779.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after buying an additional 1,886 shares in the last quarter. Finally, Legato Capital Management LLC grew its position in Varonis Systems by 74.2% during the fourth quarter. Legato Capital Management LLC now owns 13,300 shares of the technology company’s stock valued at $602,000 after acquiring an additional 5,665 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $44.03 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.50 and a quick ratio of 2.50. Varonis Systems, Inc. has a 1 year low of $22.34 and a 1 year high of $52.88. The firm has a 50-day moving average of $47.90 and a 200 day moving average of $43.32.

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

Insider Buying and Selling

In related news, VP Dov Gottlieb sold 43,091 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the sale, the vice president now directly owns 227,654 shares of the company’s stock, valued at $10,931,945.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $50.54, for a total value of $985,530.00. Following the transaction, the director now owns 19,263 shares of the company’s stock, valued at $973,552.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Dov Gottlieb sold 43,091 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $48.02, for a total value of $2,069,229.82. Following the sale, the vice president now owns 227,654 shares of the company’s stock, valued at $10,931,945.08. The disclosure for this sale can be found here. Insiders have sold a total of 372,419 shares of company stock worth $18,571,413 in the last quarter. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler increased their target price on shares of Varonis Systems from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. JMP Securities restated a “market outperform” rating and set a $63.00 target price on shares of Varonis Systems in a report on Monday, February 5th. Citigroup boosted their price objective on Varonis Systems from $35.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. boosted their price objective on shares of Varonis Systems from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Finally, DA Davidson restated a “neutral” rating and set a $45.00 price target (up previously from $37.00) on shares of Varonis Systems in a report on Thursday, January 18th. Seven investment 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 currently has an average rating of “Moderate Buy” and a consensus price target of $48.81.

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.