New York State Common Retirement Fund Lowers Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

New York State Common Retirement Fund reduced its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 58.1% during the 4th quarter, HoldingsChannel reports. The firm owned 49,691 shares of the technology company’s stock after selling 69,011 shares during the period. New York State Common Retirement Fund’s holdings in Varonis Systems were worth $2,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of VRNS. Vanguard Group Inc. boosted its stake in shares of Varonis Systems by 1.6% in the third quarter. Vanguard Group Inc. now owns 11,251,092 shares of the technology company’s stock valued at $343,608,000 after buying an additional 180,082 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Varonis Systems by 53.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 288,828 shares of the technology company’s stock valued at $13,078,000 after buying an additional 100,324 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Varonis Systems in the third quarter valued at approximately $5,257,000. Lord Abbett & CO. LLC purchased a new stake in shares of Varonis Systems in the third quarter valued at approximately $36,317,000. Finally, California Public Employees Retirement System boosted its stake in shares of Varonis Systems by 11.2% in the third 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 currently owned by hedge funds and other institutional investors.

Insider Activity at Varonis Systems

In related news, Director Ofer Segev sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the completion of the transaction, the director now directly owns 75,682 shares in the company, valued at $3,945,302.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was 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 $3,945,302.66. The transaction was disclosed in a document filed with the SEC, which is available 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 directly owns 227,654 shares of the company’s stock, valued at approximately $10,931,945.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 372,419 shares of company stock worth $18,571,413. 2.60% of the stock is currently owned by insiders.

Varonis Systems Stock Performance

Varonis Systems stock opened at $45.00 on Wednesday. The firm has a market capitalization of $5.02 billion, a P/E ratio of -48.91 and a beta of 0.84. The stock has a fifty day moving average price of $46.85 and a 200 day moving average price of $44.32. Varonis Systems, Inc. has a 52 week low of $22.87 and a 52 week high of $52.88. 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 released its earnings results on Monday, February 5th. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate 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 return on equity of 20.04% and a negative net margin of 20.22%. Equities research analysts anticipate that Varonis Systems, Inc. will post -0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

VRNS has been the topic of a number of analyst reports. Citigroup lifted their price target on Varonis Systems from $35.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Robert W. Baird lifted their price objective on Varonis Systems from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday. Truist Financial reaffirmed a “buy” rating and set a $55.00 price objective (up from $50.00) on shares of Varonis Systems in a report on Wednesday, March 13th. Stephens reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Varonis Systems in a report on Tuesday, February 6th. Finally, Piper Sandler lifted their price objective on Varonis Systems from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.06.

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.