Strs Ohio Buys 4,300 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Strs Ohio lifted its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 61.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,300 shares of the technology company’s stock after acquiring an additional 4,300 shares during the period. Strs Ohio’s holdings in Varonis Systems were worth $511,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Varonis Systems by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 11,251,092 shares of the technology company’s stock worth $343,608,000 after acquiring an additional 180,082 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of 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 acquiring an additional 100,324 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Varonis Systems in the 3rd quarter worth $5,257,000. Lord Abbett & CO. LLC bought a new position in shares of Varonis Systems in the 3rd quarter worth $36,317,000. Finally, California Public Employees Retirement System increased its position in Varonis Systems by 11.2% during the 3rd quarter. California Public Employees Retirement System now owns 199,139 shares of the technology company’s stock valued at $6,082,000 after buying an additional 20,058 shares in the last quarter. 95.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Varonis Systems news, VP Dov Gottlieb sold 43,091 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 227,654 shares of the company’s stock, valued at $10,931,945.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Varonis Systems news, VP Dov Gottlieb sold 43,091 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 227,654 shares of the company’s stock, valued at $10,931,945.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gili Iohan sold 19,500 shares of the 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 transaction, the director now directly owns 19,263 shares of the company’s stock, valued at approximately $973,552.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 372,419 shares of company stock worth $18,571,413. 2.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on VRNS. Wedbush raised Varonis Systems from a “neutral” rating to an “outperform” rating and upped their target price for the company from $35.00 to $65.00 in a research report on Tuesday, February 6th. Robert W. Baird boosted their price target on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Piper Sandler boosted 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. Wells Fargo & Company boosted their price target on Varonis Systems from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. boosted their price target on Varonis Systems from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.81.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $45.33 on Friday. The company has a market capitalization of $5.06 billion, a P/E ratio of -49.27 and a beta of 0.85. The business’s 50 day moving average is $47.54 and its two-hundred day moving average is $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, Inc. has a 12-month low of $22.34 and a 12-month high of $52.88.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $154.10 million for 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%. 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.