Varonis Systems, Inc. (NASDAQ:VRNS) Position Cut by Quest Partners LLC

Quest Partners LLC trimmed its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 61.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,783 shares of the technology company’s stock after selling 9,104 shares during the quarter. Quest Partners LLC’s holdings in Varonis Systems were worth $327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co bought a new position in Varonis Systems in the 2nd quarter worth approximately $575,000. Swedbank AB bought a new position in Varonis Systems during the 1st quarter valued at $3,344,000. Harbor Capital Advisors Inc. boosted its stake in Varonis Systems by 562.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock valued at $928,000 after purchasing an additional 16,416 shares in the last quarter. Lisanti Capital Growth LLC boosted its stake in Varonis Systems by 17.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock valued at $4,198,000 after purchasing an additional 10,820 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in Varonis Systems by 226.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 20,595 shares of the technology company’s stock valued at $1,164,000 after purchasing an additional 14,295 shares in the last quarter. 95.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the sale, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the transaction, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Varonis Systems Price Performance

VRNS opened at $50.11 on Tuesday. The stock has a fifty day moving average of $54.98 and a 200-day moving average of $50.88. The firm has a market capitalization of $5.64 billion, a P/E ratio of -66.81 and a beta of 0.82. Varonis Systems, Inc. has a 12-month low of $39.67 and a 12-month high of $60.58. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The business had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. During the same period last year, the company earned ($0.22) earnings per share. Varonis Systems’s quarterly revenue was up 21.1% compared to the same quarter last year. Equities analysts forecast that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

VRNS has been the subject of a number of research reports. Robert W. Baird increased their price target on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. TD Cowen increased their price target on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Needham & Company LLC reissued a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Barclays raised their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Piper Sandler raised their price objective on Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

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.