The Manufacturers Life Insurance Company Has $42.93 Million Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

The Manufacturers Life Insurance Company lessened its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 5.0% during the third quarter, Holdings Channel.com reports. The firm owned 759,735 shares of the technology company’s stock after selling 39,950 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Varonis Systems were worth $42,925,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of VRNS. WCM Investment Management LLC acquired a new position in shares of Varonis Systems during the third quarter worth $17,419,000. Squarepoint Ops LLC raised its stake in Varonis Systems by 167.9% during 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. Principal Financial Group Inc. raised its stake in Varonis Systems by 9.0% during 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. Thrivent Financial for Lutherans raised its stake in Varonis Systems by 4.6% during the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after buying an additional 127,129 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Varonis Systems by 97.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 251,516 shares of the technology company’s stock worth $14,211,000 after buying an additional 124,368 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Trading Down 0.7 %

NASDAQ:VRNS opened at $49.57 on Friday. Varonis Systems, Inc. has a one year low of $40.10 and a one year high of $60.58. The company has a market cap of $5.58 billion, a PE ratio of -66.09 and a beta of 0.82. The firm has a 50-day moving average of $54.64 and a 200-day moving average of $50.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results 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. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. During the same period in the previous year, the company earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, equities research analysts expect that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the company’s 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 sale, the chief financial officer now owns 504,598 shares in the company, valued at $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. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

VRNS has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price 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 lifted their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Piper Sandler lifted their price target on shares of Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Five investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

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.