MetLife Investment Management LLC Sells 1,259 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

MetLife Investment Management LLC decreased its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,320 shares of the technology company’s stock after selling 1,259 shares during the quarter. MetLife Investment Management LLC owned approximately 0.06% of Varonis Systems worth $3,521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after buying an additional 423 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after buying an additional 2,442 shares in the last quarter. KBC Group NV lifted its holdings in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after buying an additional 663 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Varonis Systems during the 3rd quarter valued at about $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems in the 2nd quarter valued at about $215,000. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Up 1.1 %

VRNS stock opened at $50.76 on Wednesday. The firm’s fifty day simple moving average is $54.28 and its 200-day simple moving average is $51.17. Varonis Systems, Inc. has a 12 month low of $41.13 and a 12 month high of $60.58. The company has a market capitalization of $5.71 billion, a P/E ratio of -67.68 and a beta of 0.80. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. As a group, equities research analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Insiders Place Their Bets

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the sale, the chief financial officer now owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. UBS Group boosted their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a report on Wednesday, October 30th. Finally, Wedbush reiterated an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Monday, August 26th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.67.

About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.