Mackenzie Financial Corp Sells 5,552 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Mackenzie Financial Corp trimmed its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 45.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,780 shares of the technology company’s stock after selling 5,552 shares during the quarter. Mackenzie Financial Corp’s holdings in Varonis Systems were worth $307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VRNS. Exchange Traded Concepts LLC lifted its holdings in Varonis Systems by 41.4% during the third quarter. Exchange Traded Concepts LLC now owns 38,294 shares of the technology company’s stock worth $1,169,000 after acquiring an additional 11,204 shares in the last quarter. Bailard Inc. lifted its holdings in shares of Varonis Systems by 26.5% during the 3rd quarter. Bailard Inc. now owns 73,040 shares of the technology company’s stock valued at $2,231,000 after purchasing an additional 15,300 shares in the last quarter. Strs Ohio grew its position in shares of Varonis Systems by 45.8% in the 3rd quarter. Strs Ohio now owns 7,000 shares of the technology company’s stock valued at $213,000 after purchasing an additional 2,200 shares during the period. Emerald Advisers LLC increased its stake in Varonis Systems by 6.1% during the 3rd quarter. Emerald Advisers LLC now owns 969,715 shares of the technology company’s stock worth $29,615,000 after purchasing an additional 55,378 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in Varonis Systems by 7.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 783,539 shares of the technology company’s stock worth $23,929,000 after purchasing an additional 51,076 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Analyst Upgrades and Downgrades

VRNS has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $56.00 price target on shares of Varonis Systems in a report on Friday, March 15th. Wells Fargo & Company upped their target price on shares of Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Piper Sandler lifted their price target on Varonis Systems from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. upped their price objective on Varonis Systems from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Finally, DA Davidson reissued a “neutral” rating and issued a $45.00 target price (up previously from $37.00) on shares of Varonis Systems in a research report on Thursday, January 18th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.81.

Insider Buying and Selling

In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total value of $985,530.00. Following the sale, the director now owns 19,263 shares in the company, valued at $973,552.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Ofer Segev sold 5,000 shares of Varonis Systems stock in a transaction dated Friday, February 9th. The shares were 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 owns 75,682 shares of the company’s stock, valued at approximately $3,945,302.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gili Iohan sold 19,500 shares of the company’s stock in a transaction dated 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 owns 19,263 shares in the company, valued at approximately $973,552.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 372,419 shares of company stock worth $18,571,413. Company insiders own 2.40% of the company’s stock.

Varonis Systems Price Performance

NASDAQ:VRNS opened at $45.33 on Friday. The stock has a market capitalization of $5.06 billion, a PE ratio of -49.27 and a beta of 0.85. Varonis Systems, Inc. has a 1-year low of $22.34 and a 1-year high of $52.88. The firm has a fifty day simple moving average of $47.54 and a 200 day simple moving average of $43.64. 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 data 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 company had revenue of $154.10 million during the quarter, compared to the consensus estimate of $151.64 million. Varonis Systems had a negative net margin of 20.22% and a negative return on equity of 20.04%. On average, research analysts expect that Varonis Systems, Inc. will post -0.96 EPS for the current fiscal year.

Varonis Systems 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.