Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,257,580 shares of the technology company’s stock after selling 29,168 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Varonis Systems were worth $71,053,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its stake in Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the period. International Assets Investment Management LLC raised its stake in shares of Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after acquiring an additional 2,442 shares during the period. KBC Group NV lifted its holdings in shares of Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after acquiring an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Varonis Systems during the 3rd quarter worth approximately $184,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Varonis Systems in the 2nd quarter valued at approximately $215,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Down 0.4 %

Varonis Systems stock opened at $50.02 on Monday. The stock has a market cap of $5.63 billion, a PE ratio of -66.69 and a beta of 0.82. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The stock’s fifty day moving average is $54.98 and its two-hundred day moving average is $50.88. Varonis Systems, Inc. has a 1-year low of $39.56 and a 1-year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. The business had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) EPS. On average, sell-side analysts expect that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRNS has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and set a $67.00 price target on shares of Varonis Systems in a research report on Monday, August 26th. Susquehanna lifted their target price on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Barclays raised their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Truist Financial reaffirmed a “buy” rating and set a $60.00 target price (up from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Varonis Systems has an average rating of “Moderate Buy” and a consensus target price of $59.67.

Insider Activity at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 91,345 shares of the company’s stock in a transaction on 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 approximately $27,096,912.60. This trade represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

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.