Bank of New York Mellon Corp lifted its stake in Varonis Systems Inc (NASDAQ:VRNS) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 367,787 shares of the technology company’s stock after buying an additional 14,829 shares during the period. Bank of New York Mellon Corp owned approximately 1.32% of Varonis Systems worth $15,412,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in Varonis Systems by 5.9% during the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock worth $197,000 after purchasing an additional 296 shares during the last quarter. NorthCoast Asset Management LLC lifted its stake in Varonis Systems by 1.1% during the second quarter. NorthCoast Asset Management LLC now owns 39,241 shares of the technology company’s stock worth $1,460,000 after purchasing an additional 426 shares during the last quarter. Legal & General Group Plc lifted its stake in Varonis Systems by 39.6% during the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock worth $159,000 after purchasing an additional 1,223 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Varonis Systems during the second quarter worth $122,000. Finally, Swiss National Bank lifted its stake in Varonis Systems by 16.6% during the second quarter. Swiss National Bank now owns 24,618 shares of the technology company’s stock worth $916,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.
Several equities research analysts have weighed in on the company. BidaskClub upgraded Varonis Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. Benchmark restated a “buy” rating and set a $60.00 target price on shares of Varonis Systems in a research note on Friday, December 1st. Needham & Company LLC restated a “buy” rating on shares of Varonis Systems in a research note on Friday, November 3rd. Oppenheimer assumed coverage on Varonis Systems in a research note on Wednesday, December 6th. They set an “outperform” rating and a $57.00 target price for the company. Finally, Zacks Investment Research cut Varonis Systems from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $49.70.
In related news, insider Ohad Korkus sold 48,024 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $50.26, for a total value of $2,413,686.24. Following the completion of the sale, the insider now directly owns 31,872 shares in the company, valued at $1,601,886.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 605 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.65, for a total value of $26,408.25. Following the completion of the sale, the chief financial officer now owns 95,491 shares of the company’s stock, valued at $4,168,182.15. The disclosure for this sale can be found here. Insiders sold a total of 287,384 shares of company stock valued at $14,505,934 over the last quarter. 19.50% of the stock is owned by corporate insiders.
Shares of Varonis Systems Inc (VRNS) traded up $0.25 on Thursday, hitting $52.20. The stock had a trading volume of 139,132 shares, compared to its average volume of 212,229. Varonis Systems Inc has a one year low of $25.20 and a one year high of $53.60. The company has a market cap of $1,450.00, a PE ratio of -90.00 and a beta of 0.80.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.06 EPS for the quarter. Varonis Systems had a negative return on equity of 18.97% and a negative net margin of 7.91%. The company had revenue of $53.60 million during the quarter, compared to analysts’ expectations of $50.53 million. During the same period in the prior year, the company earned ($0.03) EPS. Varonis Systems’s revenue was up 31.1% compared to the same quarter last year. research analysts predict that Varonis Systems Inc will post -0.53 EPS for the current year.
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Varonis Systems Profile
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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