California Public Employees Retirement System Sells 16,763 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

California Public Employees Retirement System cut its position in Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,778 shares of the technology company’s stock after selling 16,763 shares during the quarter. California Public Employees Retirement System’s holdings in Varonis Systems were worth $5,711,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. William Blair Investment Management LLC raised its stake in shares of Varonis Systems by 15.8% during the 2nd quarter. William Blair Investment Management LLC now owns 5,236,962 shares of the technology company’s stock valued at $153,548,000 after purchasing an additional 713,015 shares during the period. Clearbridge Investments LLC raised its stake in shares of Varonis Systems by 11.6% during the 1st quarter. Clearbridge Investments LLC now owns 3,468,690 shares of the technology company’s stock valued at $164,902,000 after purchasing an additional 360,921 shares during the period. Pictet Asset Management SA raised its stake in shares of Varonis Systems by 9.9% during the 2nd quarter. Pictet Asset Management SA now owns 3,412,935 shares of the technology company’s stock valued at $100,067,000 after purchasing an additional 307,947 shares during the period. State Street Corp raised its stake in shares of Varonis Systems by 3.0% during the 1st quarter. State Street Corp now owns 2,296,041 shares of the technology company’s stock valued at $109,154,000 after purchasing an additional 67,696 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Varonis Systems by 24.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,841,056 shares of the technology company’s stock valued at $87,524,000 after purchasing an additional 359,785 shares during the period. 92.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on VRNS shares. Craig Hallum lowered Varonis Systems from a “buy” rating to a “hold” rating and decreased their price objective for the company from $35.00 to $22.00 in a research note on Tuesday, November 1st. Morgan Stanley decreased their target price on Varonis Systems from $32.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 1st. Wells Fargo & Company lowered Varonis Systems from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $35.00 to $24.00 in a research note on Tuesday, November 1st. StockNews.com initiated coverage on Varonis Systems in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Cowen decreased their target price on Varonis Systems from $53.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.31.

Insider Transactions at Varonis Systems

In related news, SVP James O’boyle bought 60,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was bought at an average cost of $16.72 per share, for a total transaction of $1,003,200.00. Following the acquisition, the senior vice president now directly owns 428,989 shares of the company’s stock, valued at approximately $7,172,696.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ofer Segev sold 1,500 shares of the stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $27.51, for a total transaction of $41,265.00. Following the completion of the sale, the director now directly owns 73,910 shares in the company, valued at approximately $2,033,264.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James O’boyle bought 60,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were bought at an average price of $16.72 per share, with a total value of $1,003,200.00. Following the completion of the acquisition, the senior vice president now directly owns 428,989 shares in the company, valued at $7,172,696.08. The disclosure for this purchase can be found here. In the last three months, insiders bought 75,935 shares of company stock worth $1,281,997. 1.90% of the stock is currently owned by corporate insiders.

Varonis Systems Price Performance

VRNS opened at $20.80 on Friday. The stock has a 50-day moving average price of $23.93 and a 200-day moving average price of $27.93. Varonis Systems, Inc. has a 12-month low of $15.61 and a 12-month high of $53.85. The company has a current ratio of 4.38, a quick ratio of 4.38 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.29 billion, a P/E ratio of -16.38 and a beta of 1.05.

Varonis Systems Company Profile

(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.

See Also

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

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