Verition Fund Management LLC Sells 13,100 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Verition Fund Management LLC lowered its stake in Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) by 49.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 13,175 shares of the technology company’s stock after selling 13,100 shares during the quarter. Verition Fund Management LLC’s holdings in Varonis Systems were worth $626,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D increased its stake in Varonis Systems by 8.4% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 66,963 shares of the technology company’s stock valued at $3,183,000 after purchasing an additional 5,176 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Varonis Systems by 43.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 14,125 shares of the technology company’s stock valued at $671,000 after purchasing an additional 4,257 shares in the last quarter. Millennium Management LLC increased its stake in Varonis Systems by 283.9% during the 4th quarter. Millennium Management LLC now owns 553,427 shares of the technology company’s stock valued at $26,996,000 after purchasing an additional 409,279 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in Varonis Systems by 311.8% during the 1st quarter. Virginia Retirement Systems ET AL now owns 21,000 shares of the technology company’s stock valued at $998,000 after purchasing an additional 15,900 shares in the last quarter. Finally, Summit Global Investments bought a new stake in Varonis Systems during the 4th quarter valued at $922,000. Institutional investors own 92.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on VRNS. Piper Sandler decreased their price target on shares of Varonis Systems from $45.00 to $37.00 and set an “overweight” rating for the company in a research note on Tuesday, August 2nd. UBS Group cut their price objective on shares of Varonis Systems from $51.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, August 2nd. Wells Fargo & Company cut their price objective on shares of Varonis Systems from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, August 2nd. Needham & Company LLC cut their price objective on shares of Varonis Systems from $75.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 2nd. Finally, Cowen cut their price objective on shares of Varonis Systems from $62.00 to $53.00 in a report on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.93.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Director Ofer Segev sold 1,500 shares of the company’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $31.48, for a total transaction of $47,220.00. Following the sale, the director now directly owns 75,410 shares of the company’s stock, valued at $2,373,906.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.90% of the company’s stock.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $26.47 on Friday. The company’s 50-day moving average is $28.38 and its 200 day moving average is $34.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.34 and a current ratio of 4.34. The company has a market capitalization of $2.91 billion, a P/E ratio of -21.52 and a beta of 1.13. Varonis Systems, Inc. has a fifty-two week low of $24.58 and a fifty-two week high of $69.33.

Varonis Systems (NASDAQ:VRNSGet Rating) last released its quarterly earnings data on Monday, August 1st. The technology company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.07). The business had revenue of $111.45 million for the quarter, compared to analysts’ expectations of $111.40 million. Varonis Systems had a negative net margin of 30.67% and a negative return on equity of 22.15%. On average, equities research analysts forecast that Varonis Systems, Inc. will post -0.98 earnings per share for the current year.

About Varonis Systems

(Get Rating)

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; strategic and product plans; and other intellectual property.

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Institutional Ownership by Quarter for Varonis Systems (NASDAQ:VRNS)

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