Victory Capital Management Inc. Cuts Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Victory Capital Management Inc. lessened its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 734,763 shares of the technology company’s stock after selling 33,982 shares during the quarter. Victory Capital Management Inc.’s holdings in Varonis Systems were worth $33,270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Varonis Systems by 1,779.2% in the 4th 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. Cerity Partners LLC purchased a new stake in Varonis Systems during the 4th quarter worth about $219,000. Semanteon Capital Management LP purchased a new stake in Varonis Systems during the 4th quarter worth about $241,000. Xponance Inc. purchased a new stake in Varonis Systems during the 4th quarter worth about $300,000. Finally, Strs Ohio increased its holdings in 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 purchasing an additional 2,200 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. 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. JPMorgan Chase & Co. upped their price target on Varonis Systems from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. JMP Securities restated a “market outperform” rating and set a $63.00 price target on shares of Varonis Systems in a report on Monday, February 5th. Truist Financial restated a “buy” rating and set a $55.00 price target (up previously from $50.00) on shares of Varonis Systems in a report on Wednesday, March 13th. Finally, Piper Sandler increased their price objective on Varonis Systems from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Varonis Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.81.

Insiders Place Their Bets

In other Varonis Systems news, CFO Guy Melamed sold 188,503 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.88, for a total transaction of $9,402,529.64. Following the completion of the sale, the chief financial officer now directly owns 645,876 shares of the company’s stock, valued at approximately $32,216,294.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 directly owns 227,654 shares of the company’s stock, valued at approximately $10,931,945.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 188,503 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.88, for a total value of $9,402,529.64. Following the transaction, the chief financial officer now directly owns 645,876 shares of the company’s stock, valued at $32,216,294.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 372,419 shares of company stock valued at $18,571,413. 2.60% of the stock is owned by company insiders.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $44.59 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 52-week low of $22.87 and a 52-week high of $52.88. The business has a 50-day moving average price of $46.97 and a 200 day moving average price of $44.23.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, February 5th. The technology company reported $0.02 earnings per share 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 company had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $151.64 million. Equities analysts predict that Varonis Systems, Inc. will post -0.96 EPS for the current year.

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.