Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust lessened its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 10.2% in the third quarter, Holdings Channel reports. The firm owned 673,641 shares of the technology company’s stock after selling 76,221 shares during the quarter. Varonis Systems accounts for about 2.0% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 4th largest position. Emerald Mutual Fund Advisers Trust’s holdings in Varonis Systems were worth $38,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Varonis Systems by 1.4% in the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock valued at $530,978,000 after acquiring an additional 155,040 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Varonis Systems by 4.6% during the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after purchasing an additional 127,129 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Varonis Systems by 1.1% during the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after purchasing an additional 23,231 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Varonis Systems by 8.9% during the second quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company’s stock worth $78,517,000 after purchasing an additional 133,109 shares during the last quarter. Finally, Hood River Capital Management LLC grew its holdings in shares of Varonis Systems by 40.8% during the first quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company’s stock worth $76,032,000 after purchasing an additional 466,688 shares during the last quarter. Institutional investors own 95.65% of the company’s stock.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the transaction, the insider now directly owns 494,114 shares of the company’s stock, valued at $25,219,578.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VRNS shares. Wedbush restated an “outperform” rating and set a $67.00 price target on shares of Varonis Systems in a report on Monday, August 26th. Baird R W upgraded Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and issued a $60.00 target price (up from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Barclays upped their target price on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their target price on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.75.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $51.23 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55. Varonis Systems, Inc. has a twelve month low of $32.26 and a twelve month high of $60.58. The stock’s 50 day moving average is $55.86 and its 200-day moving average is $50.10. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of -68.31 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.22% and a negative net margin of 15.31%. The company had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same period in the prior year, the firm earned ($0.22) earnings per share. Varonis Systems’s revenue for the quarter was up 21.1% on a year-over-year basis. Sell-side analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems Company Profile

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.