Eagle Asset Management Inc. Sells 28,205 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Eagle Asset Management Inc. lowered its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 6.7% during the third quarter, HoldingsChannel.com reports. The firm owned 393,413 shares of the technology company’s stock after selling 28,205 shares during the period. Eagle Asset Management Inc.’s holdings in Varonis Systems were worth $20,607,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Varonis Systems by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock valued at $530,978,000 after purchasing an additional 155,040 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Varonis Systems by 4.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock valued at $137,885,000 after purchasing an additional 127,129 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Varonis Systems by 1.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock valued at $106,396,000 after purchasing an additional 23,231 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after purchasing an additional 147,081 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Varonis Systems by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock valued at $54,405,000 after purchasing an additional 59,218 shares during the period. Institutional investors and hedge funds own 95.65% of the company’s stock.

Insider Buying and Selling

In other news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction that occurred 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. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction that occurred 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. The trade was 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 brokerages recently commented on VRNS. Wedbush reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Monday, August 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Barclays raised their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, Truist Financial reissued a “buy” rating and issued a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Five 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Varonis Systems Stock Performance

Varonis Systems stock opened at $50.02 on Friday. Varonis Systems, Inc. has a 52 week low of $39.56 and a 52 week high of $60.58. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The stock has a 50-day simple moving average of $55.06 and a 200 day simple moving average of $50.77.

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

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.