Victory Capital Management Inc. Sells 33,982 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Victory Capital Management Inc. lessened its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 734,763 shares of the technology company’s stock after selling 33,982 shares during the period. Victory Capital Management Inc. owned 0.67% of Varonis Systems worth $33,270,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Varonis Systems by 1.6% during the 3rd 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 holdings in shares of Varonis Systems by 53.2% during the 4th 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 bought a new stake in shares of Varonis Systems during the 3rd quarter valued at $5,257,000. Lord Abbett & CO. LLC bought a new stake in shares of Varonis Systems during the 3rd quarter valued at $36,317,000. Finally, California Public Employees Retirement System boosted its holdings in shares of Varonis Systems by 11.2% during the 3rd 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. Institutional investors own 95.65% of the company’s stock.

Insider Buying and Selling

In related news, Director Gili Iohan sold 19,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the completion of the sale, the director now directly owns 19,263 shares of the company’s stock, valued at approximately $973,552.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gili Iohan sold 19,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the completion of the sale, the director now directly owns 19,263 shares of the company’s stock, valued at approximately $973,552.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dov Gottlieb sold 43,091 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the completion of the sale, the vice president now directly owns 227,654 shares of the company’s stock, valued at $10,931,945.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 372,419 shares of company stock valued at $18,571,413. 2.60% of the stock is owned by corporate insiders.

Varonis Systems Trading Up 1.9 %

NASDAQ VRNS opened at $44.59 on Tuesday. Varonis Systems, Inc. has a 52 week low of $22.87 and a 52 week high of $52.88. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $46.97 and a 200-day moving average price of $44.23.

Varonis Systems (NASDAQ:VRNS) last released its quarterly 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 net margin of 20.22% and a negative return on equity of 20.04%. As a group, analysts predict that Varonis Systems, Inc. will post -0.96 EPS for the current year.

Analyst Ratings Changes

VRNS has been the topic of a number of analyst reports. DA Davidson reiterated a “neutral” rating and issued a $45.00 price target (up previously from $37.00) on shares of Varonis Systems in a research note on Thursday, January 18th. Stephens reiterated an “overweight” rating and issued a $55.00 price target on shares of Varonis Systems in a research note on Tuesday, February 6th. Piper Sandler upped their price target on shares of Varonis Systems from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $56.00 price target on shares of Varonis Systems in a research note on Friday, March 15th. Finally, Robert W. Baird upped their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.81.

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.