Natixis Investment Managers International Sells 922 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Natixis Investment Managers International cut its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 24.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,825 shares of the technology company’s stock after selling 922 shares during the period. Natixis Investment Managers International’s holdings in Varonis Systems were worth $133,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VRNS. Vanguard Group Inc. lifted its stake 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 purchasing an additional 155,040 shares during the last quarter. First Trust Advisors LP lifted its stake in Varonis Systems by 7.9% in the fourth quarter. First Trust Advisors LP now owns 4,426,593 shares of the technology company’s stock valued at $200,436,000 after purchasing an additional 325,347 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Varonis Systems by 1.9% in the fourth quarter. Clearbridge Investments LLC now owns 3,722,692 shares of the technology company’s stock valued at $168,563,000 after purchasing an additional 70,572 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Varonis Systems by 126.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock valued at $90,336,000 after purchasing an additional 1,070,821 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Varonis Systems by 121.3% in the first quarter. Principal Financial Group Inc. now owns 1,503,683 shares of the technology company’s stock valued at $70,929,000 after purchasing an additional 824,163 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

Varonis Systems Trading Up 0.5 %

Shares of NASDAQ:VRNS traded up $0.25 on Thursday, reaching $46.91. 1,439,765 shares of the company traded hands, compared to its average volume of 1,228,106. The business’s 50-day simple moving average is $45.21 and its 200 day simple moving average is $46.27. Varonis Systems, Inc. has a 52 week low of $26.83 and a 52 week high of $52.88. The stock has a market capitalization of $5.23 billion, a P/E ratio of -50.49 and a beta of 0.83. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Monday, May 6th. The technology company reported ($0.37) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.37). Varonis Systems had a negative return on equity of 21.33% and a negative net margin of 20.38%. The firm had revenue of $114.02 million for the quarter, compared to analysts’ expectations of $113.81 million. As a group, equities analysts anticipate that Varonis Systems, Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRNS has been the topic of several recent research reports. Robert W. Baird increased their target price on Varonis Systems from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. upgraded Varonis Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $50.00 to $54.00 in a research report on Friday, June 14th. Barclays increased their target price on Varonis Systems from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Royal Bank of Canada increased their target price on Varonis Systems from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a research report on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.44.

Insider Transactions at Varonis Systems

In other news, CEO Yakov Faitelson sold 284,211 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the completion of the sale, the chief executive officer now directly owns 1,452,922 shares in the company, valued at $65,715,662.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.60% of the stock is currently owned by company insiders.

About Varonis Systems

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.