Daiwa Securities Group Inc. Has $247,000 Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Daiwa Securities Group Inc. lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 26.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,453 shares of the technology company’s stock after selling 1,947 shares during the period. Daiwa Securities Group Inc.’s holdings in Varonis Systems were worth $247,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in Varonis Systems by 1,779.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after purchasing an additional 1,886 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Varonis Systems during the 4th quarter worth approximately $219,000. Strs Ohio lifted its position in shares of Varonis Systems by 45.8% during the 3rd quarter. Strs Ohio now owns 7,000 shares of the technology company’s stock worth $213,000 after buying an additional 2,200 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Varonis Systems by 4.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 8,502 shares of the technology company’s stock worth $260,000 after buying an additional 356 shares in the last quarter. Finally, Natixis Advisors L.P. bought a new position in shares of Varonis Systems during the 3rd quarter worth approximately $308,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

Insider Activity

In other news, Director Gili Iohan sold 19,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total transaction of $985,530.00. Following the completion of the transaction, the director now directly owns 19,263 shares in the company, valued at approximately $973,552.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gili Iohan sold 19,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total transaction of $985,530.00. Following the completion of the transaction, the director now directly owns 19,263 shares in the company, valued at approximately $973,552.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Bass sold 116,325 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $50.32, for a total transaction of $5,853,474.00. Following the transaction, the executive vice president now owns 650,972 shares of the company’s stock, valued at $32,756,911.04. The disclosure for this sale can be found here. Insiders sold 372,419 shares of company stock worth $18,571,413 in the last three months. Corporate insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

VRNS has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and set a $55.00 target price (up previously from $50.00) on shares of Varonis Systems in a research report on Wednesday, March 13th. Royal Bank of Canada reissued an “outperform” rating and set a $56.00 target price on shares of Varonis Systems in a research report on Friday, March 15th. Citigroup lifted their target price on shares of Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Robert W. Baird lifted their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Finally, Piper Sandler lifted their price target on shares of Varonis Systems from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.81.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $45.33 on Friday. The company’s fifty day simple moving average is $47.54 and its two-hundred day simple moving average is $43.54. 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.

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

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.