Migdal Insurance & Financial Holdings Ltd. Sells 1,392 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,602 shares of the technology company’s stock after selling 1,392 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Varonis Systems were worth $1,582,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. E. Ohman J or Asset Management AB increased its stake in Varonis Systems by 8.6% in the 4th quarter. E. Ohman J or Asset Management AB now owns 31,700 shares of the technology company’s stock worth $1,408,000 after acquiring an additional 2,500 shares during the last quarter. R Squared Ltd purchased a new position in shares of Varonis Systems during the fourth quarter worth about $194,000. Pacer Advisors Inc. increased its position in shares of Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares during the last quarter. KBC Group NV raised its stake in Varonis Systems by 45.6% in the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after purchasing an additional 1,488 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Varonis Systems by 29.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 48,419 shares of the technology company’s stock valued at $2,151,000 after purchasing an additional 10,886 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the transaction, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Royal Bank of Canada restated an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Robert W. Baird upped their price objective on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Citigroup decreased their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Finally, Cantor Fitzgerald assumed coverage on Varonis Systems in a research report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price for the company. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.38.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $40.01 on Friday. Varonis Systems, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $60.58. The stock has a 50 day simple moving average of $46.06 and a two-hundred day simple moving average of $51.31. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. Research analysts forecast that Varonis Systems, Inc. will post -0.7 earnings per share for the current 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.