Victory Capital Management Inc. Trims Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Victory Capital Management Inc. lowered its holdings in Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) by 45.6% in the third quarter, HoldingsChannel reports. The firm owned 1,119,051 shares of the technology company’s stock after selling 939,300 shares during the period. Victory Capital Management Inc.’s holdings in Varonis Systems were worth $29,678,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in Varonis Systems in the second quarter valued at about $30,000. Ellevest Inc. boosted its holdings in Varonis Systems by 586.0% in the second quarter. Ellevest Inc. now owns 1,228 shares of the technology company’s stock valued at $36,000 after purchasing an additional 1,049 shares during the last quarter. Private Trust Co. NA purchased a new position in Varonis Systems in the second quarter valued at about $44,000. Harbor Investment Advisory LLC boosted its holdings in Varonis Systems by 59.4% in the second quarter. Harbor Investment Advisory LLC now owns 1,776 shares of the technology company’s stock valued at $52,000 after purchasing an additional 662 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Varonis Systems by 35.9% during the 1st quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock worth $66,000 after buying an additional 366 shares during the last quarter. Hedge funds and other institutional investors own 90.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wedbush downgraded Varonis Systems from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $20.00 in a report on Tuesday, November 1st. JMP Securities reduced their target price on Varonis Systems from $73.00 to $63.00 and set a “market outperform” rating on the stock in a report on Tuesday, November 1st. Barclays increased their target price on Varonis Systems from $22.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 11th. Truist Financial reduced their target price on Varonis Systems from $40.00 to $35.00 in a report on Monday, January 9th. Finally, Royal Bank of Canada reduced their target price on Varonis Systems from $35.00 to $29.00 and set an “outperform” rating on the stock in a report on Tuesday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.19.

Varonis Systems Price Performance

VRNS opened at $25.72 on Monday. Varonis Systems, Inc. has a 12 month low of $15.61 and a 12 month high of $51.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.38 and a current ratio of 4.38. The stock’s 50 day moving average price is $22.74 and its 200 day moving average price is $25.41.

Varonis Systems (NASDAQ:VRNSGet Rating) last posted its earnings results on Monday, October 31st. The technology company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Varonis Systems had a negative net margin of 30.31% and a negative return on equity of 24.11%. The business had revenue of $123.31 million during the quarter, compared to analyst estimates of $124.63 million. On average, analysts anticipate that Varonis Systems, Inc. will post -0.99 EPS for the current fiscal year.

Insider Activity

In other news, CFO Guy Melamed purchased 14,285 shares of the stock in a transaction dated Thursday, November 3rd. The shares were bought at an average cost of $17.50 per share, for a total transaction of $249,987.50. Following the transaction, the chief financial officer now owns 465,951 shares in the company, valued at $8,154,142.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Guy Melamed purchased 14,285 shares of the stock in a transaction dated Thursday, November 3rd. The shares were bought at an average cost of $17.50 per share, for a total transaction of $249,987.50. Following the transaction, the chief financial officer now owns 465,951 shares in the company, valued at $8,154,142.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Avrohom J. Kess purchased 1,650 shares of the stock in a transaction dated Thursday, November 3rd. The shares were purchased at an average price of $17.46 per share, for a total transaction of $28,809.00. Following the completion of the transaction, the director now owns 10,460 shares in the company, valued at approximately $182,631.60. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 100,335 shares of company stock worth $1,782,197. 1.90% of the stock is owned by company insiders.

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.

Featured Stories

Want to see what other hedge funds are holding VRNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varonis Systems, Inc. (NASDAQ:VRNSGet Rating).

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

Receive News & Ratings for Varonis Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varonis Systems and related companies with MarketBeat.com's FREE daily email newsletter.