First Trust Advisors LP grew its holdings in shares of Varonis Systems Inc (NASDAQ:VRNS) by 25.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 414,699 shares of the technology company’s stock after purchasing an additional 85,409 shares during the period. First Trust Advisors LP’s holdings in Varonis Systems were worth $30,377,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AMP Capital Investors Ltd acquired a new position in Varonis Systems during the 2nd quarter worth approximately $209,000. First Republic Investment Management Inc. acquired a new position in Varonis Systems during the 2nd quarter worth approximately $213,000. Capital Fund Management S.A. acquired a new position in Varonis Systems during the 2nd quarter worth approximately $238,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Varonis Systems during the 2nd quarter worth approximately $260,000. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Varonis Systems during the 2nd quarter worth approximately $261,000. Institutional investors own 82.14% of the company’s stock.
In related news, CFO Guy Melamed sold 844 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $72.35, for a total value of $61,063.40. Following the sale, the chief financial officer now owns 130,212 shares in the company, valued at approximately $9,420,838.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company’s stock.
VRNS opened at $61.01 on Friday. The company has a market capitalization of $1.70 billion, a P/E ratio of -122.02 and a beta of 0.74. Varonis Systems Inc has a 1-year low of $44.55 and a 1-year high of $83.10.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, October 29th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.23. The business had revenue of $67.05 million for the quarter, compared to analysts’ expectations of $64.47 million. Varonis Systems had a negative return on equity of 26.68% and a negative net margin of 11.53%. The company’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. Analysts expect that Varonis Systems Inc will post -0.93 earnings per share for the current year.
Several equities analysts have issued reports on VRNS shares. BidaskClub upgraded Varonis Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 11th. DA Davidson set a $70.00 target price on Varonis Systems and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Needham & Company LLC dropped their target price on Varonis Systems from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Jefferies Financial Group dropped their target price on Varonis Systems from $92.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $75.00 target price (down previously from $85.00) on shares of Varonis Systems in a research report on Tuesday, July 31st. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.88.
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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