Allianz Asset Management GmbH raised its holdings in Varonis Systems Inc (NASDAQ:VRNS) by 83.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 92,752 shares of the technology company’s stock after acquiring an additional 42,171 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.33% of Varonis Systems worth $3,886,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. University of Notre Dame DU Lac acquired a new position in Varonis Systems in the 3rd quarter valued at approximately $5,373,000. Hillsdale Investment Management Inc. acquired a new position in Varonis Systems in the 3rd quarter valued at approximately $1,165,000. Schwab Charles Investment Management Inc. increased its position in Varonis Systems by 35.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 91,095 shares of the technology company’s stock valued at $3,817,000 after acquiring an additional 24,049 shares during the period. Wells Fargo & Company MN increased its position in Varonis Systems by 13.1% in the 3rd quarter. Wells Fargo & Company MN now owns 80,583 shares of the technology company’s stock valued at $3,377,000 after acquiring an additional 9,312 shares during the period. Finally, Eagle Asset Management Inc. increased its position in Varonis Systems by 2.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 199,275 shares of the technology company’s stock valued at $8,359,000 after acquiring an additional 4,772 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.
VRNS has been the subject of several recent research reports. Royal Bank of Canada restated a “buy” rating and issued a $55.00 price target on shares of Varonis Systems in a research report on Thursday, December 7th. Zacks Investment Research upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Thursday, November 2nd. Barclays restated a “neutral” rating on shares of Varonis Systems in a research report on Tuesday, December 19th. Oppenheimer reiterated a “buy” rating and set a $57.00 price objective on shares of Varonis Systems in a research report on Wednesday, December 13th. Finally, Jefferies Group increased their price objective on shares of Varonis Systems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Varonis Systems currently has an average rating of “Buy” and an average price target of $50.45.
In related news, Director Rona Segev-Gal sold 5,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $48.05, for a total transaction of $240,250.00. Following the transaction, the director now directly owns 15,107 shares of the company’s stock, valued at $725,891.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Guy Melamed sold 605 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $43.65, for a total transaction of $26,408.25. Following the transaction, the chief financial officer now directly owns 95,491 shares in the company, valued at $4,168,182.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 287,384 shares of company stock worth $14,505,934. 19.50% of the stock is owned by insiders.
Varonis Systems Inc (NASDAQ VRNS) traded down $0.15 on Friday, hitting $52.05. 164,778 shares of the stock traded hands, compared to its average volume of 211,500. Varonis Systems Inc has a 52 week low of $25.20 and a 52 week high of $53.60. The firm has a market capitalization of $1,453.18, a PE ratio of -89.74 and a beta of 0.80.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. The company had revenue of $53.60 million during the quarter, compared to analysts’ expectations of $50.53 million. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. Varonis Systems’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) earnings per share. equities research analysts expect that Varonis Systems Inc will post -0.53 EPS for the current fiscal year.
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About Varonis Systems
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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