Raymond James & Associates lessened its stake in shares of Varonis Systems Ltd. (NASDAQ:VRNS) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,115 shares of the technology company’s stock after selling 2,454 shares during the quarter. Raymond James & Associates owned approximately 0.22% of Varonis Systems worth $2,919,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its position in Varonis Systems by 25.9% during the 4th quarter. BlackRock Inc. now owns 2,382,680 shares of the technology company’s stock worth $115,680,000 after purchasing an additional 489,675 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Varonis Systems by 99.3% in the 4th quarter. Bank of New York Mellon Corp now owns 732,983 shares of the technology company’s stock valued at $35,586,000 after buying an additional 365,196 shares during the period. Emerald Advisers Inc. PA grew its holdings in Varonis Systems by 0.3% in the 4th quarter. Emerald Advisers Inc. PA now owns 719,544 shares of the technology company’s stock valued at $34,934,000 after buying an additional 2,384 shares during the period. Two Sigma Advisers LP grew its holdings in Varonis Systems by 11.8% in the 4th quarter. Two Sigma Advisers LP now owns 382,273 shares of the technology company’s stock valued at $18,559,000 after buying an additional 40,500 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Varonis Systems by 6.3% in the 4th quarter. Renaissance Technologies LLC now owns 361,800 shares of the technology company’s stock valued at $17,565,000 after buying an additional 21,400 shares during the period. Hedge funds and other institutional investors own 84.84% of the company’s stock.
VRNS has been the subject of several recent analyst reports. BidaskClub upgraded Varonis Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, March 23rd. Zacks Investment Research cut Varonis Systems from a “hold” rating to a “sell” rating in a report on Saturday, February 17th. Barclays restated a “neutral” rating on shares of Varonis Systems in a report on Tuesday, December 19th. Oppenheimer restated a “buy” rating and issued a $57.00 price target on shares of Varonis Systems in a report on Wednesday, December 13th. Finally, Stephens restated a “buy” rating and issued a $58.00 price target on shares of Varonis Systems in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Varonis Systems currently has a consensus rating of “Buy” and an average target price of $60.15.
NASDAQ VRNS opened at $60.45 on Monday. The stock has a market capitalization of $1,709.95, a PE ratio of -120.90 and a beta of 0.73. Varonis Systems Ltd. has a 1-year low of $30.40 and a 1-year high of $63.50.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, February 12th. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $73.20 million for the quarter, compared to analyst estimates of $66.29 million. Varonis Systems had a negative return on equity of 15.65% and a negative net margin of 6.30%. The company’s revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. sell-side analysts anticipate that Varonis Systems Ltd. will post -0.77 earnings per share for the current fiscal year.
In other news, SVP James O’boyle sold 35,000 shares of Varonis Systems stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $56.79, for a total value of $1,987,650.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Guy Melamed sold 15,510 shares of Varonis Systems stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $56.13, for a total value of $870,576.30. The disclosure for this sale can be found here. Insiders sold a total of 257,607 shares of company stock worth $14,774,744 over the last ninety days. Corporate insiders own 4.20% of the company’s stock.
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About Varonis Systems
Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.
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