Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 55.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 561,448 shares of the technology company’s stock after selling 696,291 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Varonis Systems were worth $31,722,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in VRNS. WCM Investment Management LLC acquired a new position in Varonis Systems in the third quarter worth approximately $17,419,000. Squarepoint Ops LLC grew its position in Varonis Systems by 167.9% in the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock worth $21,755,000 after buying an additional 284,236 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Varonis Systems by 40.0% in the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock worth $38,361,000 after buying an additional 228,589 shares during the last quarter. Thematics Asset Management grew its position in Varonis Systems by 40.2% in the third quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock worth $29,945,000 after buying an additional 152,000 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after buying an additional 147,081 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Trading Up 0.0 %

Varonis Systems stock opened at $50.78 on Thursday. The company’s fifty day simple moving average is $54.15 and its 200-day simple moving average is $51.17. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems, Inc. has a 12 month low of $41.13 and a 12 month high of $60.58. The stock has a market cap of $5.71 billion, a P/E ratio of -67.71 and a beta of 0.80.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data 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. The firm had revenue of $148.07 million during the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. Varonis Systems’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.22) earnings per share. As a group, sell-side analysts forecast that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 value of $2,988,000.00. Following the completion of the sale, 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 sale was disclosed in a document filed 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 stock was 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 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 corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on VRNS. Wedbush reiterated an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Monday, August 26th. UBS Group lifted their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Piper Sandler lifted their price objective on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.67.

Varonis Systems 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.