Victory Capital Management Inc. Sells 70,614 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Victory Capital Management Inc. lowered its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 9.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 702,739 shares of the technology company’s stock after selling 70,614 shares during the period. Victory Capital Management Inc. owned 0.62% of Varonis Systems worth $39,705,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after acquiring an additional 423 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,442 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Varonis Systems in the 2nd quarter worth approximately $215,000. O Neil Global Advisors Inc. raised its position in shares of Varonis Systems by 4.8% in the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after acquiring an additional 220 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Varonis Systems in the 2nd quarter worth approximately $260,000. Institutional investors own 95.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on VRNS shares. Wedbush reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Monday, August 26th. Barclays raised their price objective on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. TD Cowen raised their price objective on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler raised their price objective on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Varonis Systems currently has an average rating of “Moderate Buy” and an average target price of $59.67.

Varonis Systems Stock Performance

VRNS stock opened at $51.08 on Friday. The company has a market cap of $5.74 billion, a P/E ratio of -68.11 and a beta of 0.82. Varonis Systems, Inc. has a 1 year low of $36.87 and a 1 year high of $60.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The stock’s fifty day moving average price is $55.20 and its 200-day moving average price is $50.56.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the business posted ($0.22) EPS. On average, equities analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the transaction, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

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.