Goldman Sachs Group Inc. grew its stake in Varonis Systems Ltd. (NASDAQ:VRNS) by 97.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,672 shares of the technology company’s stock after purchasing an additional 45,307 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Varonis Systems were worth $4,450,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Varonis Systems by 25.9% in the fourth quarter. BlackRock Inc. now owns 2,382,680 shares of the technology company’s stock valued at $115,680,000 after purchasing an additional 489,675 shares during the period. Bank of New York Mellon Corp raised its position in shares of Varonis Systems by 99.3% in the fourth quarter. Bank of New York Mellon Corp now owns 732,983 shares of the technology company’s stock valued at $35,586,000 after purchasing an additional 365,196 shares during the period. Emerald Advisers Inc. PA raised its position in shares of Varonis Systems by 0.3% in the fourth quarter. Emerald Advisers Inc. PA now owns 719,544 shares of the technology company’s stock valued at $34,934,000 after purchasing an additional 2,384 shares during the period. Renaissance Technologies LLC raised its position in shares of Varonis Systems by 6.3% in the fourth quarter. Renaissance Technologies LLC now owns 361,800 shares of the technology company’s stock valued at $17,565,000 after purchasing an additional 21,400 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Varonis Systems by 33.2% in the fourth quarter. Deutsche Bank AG now owns 358,569 shares of the technology company’s stock valued at $17,406,000 after purchasing an additional 89,442 shares during the period. 84.84% of the stock is currently owned by institutional investors.
VRNS has been the topic of several research reports. Oppenheimer restated a “buy” rating and issued a $57.00 price target on shares of Varonis Systems in a research note on Wednesday, December 13th. Zacks Investment Research upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Tuesday, January 23rd. Needham & Company LLC upped their price target on shares of Varonis Systems from $52.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Stephens restated a “buy” rating and issued a $58.00 price target on shares of Varonis Systems in a research note on Friday, January 12th. Finally, BidaskClub upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $60.15.
VRNS stock opened at $60.45 on Monday. Varonis Systems Ltd. has a 52 week low of $30.40 and a 52 week high of $63.50. The stock has a market capitalization of $1,709.95, a P/E ratio of -120.90 and a beta of 0.73.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, February 12th. The technology company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. The business had revenue of $73.20 million for the quarter, compared to the consensus estimate of $66.29 million. Varonis Systems had a negative net margin of 6.30% and a negative return on equity of 15.65%. Varonis Systems’s revenue was up 34.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 earnings per share. research analysts anticipate that Varonis Systems Ltd. will post -0.77 EPS for the current fiscal year.
In other Varonis Systems news, Director Gili Iohan sold 16,370 shares of the stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $60.41, for a total transaction of $988,911.70. Following the sale, the director now directly owns 53,149 shares in the company, valued at $3,210,731.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Guy Melamed sold 15,510 shares of the stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $56.13, for a total transaction of $870,576.30. The disclosure for this sale can be found here. Insiders have sold 257,607 shares of company stock worth $14,774,744 over the last quarter. Corporate insiders own 4.20% of the company’s stock.
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Varonis Systems Profile
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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