Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,672,709 shares of the technology company’s stock after selling 201,679 shares during the period. Thrivent Financial for Lutherans owned 2.38% of Varonis Systems worth $151,008,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of VRNS. Farther Finance Advisors LLC boosted its position in shares of Varonis Systems by 445.3% during 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 increased its stake in Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after purchasing an additional 2,442 shares during the last quarter. KBC Group NV raised its holdings in Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after purchasing an additional 663 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Varonis Systems during the 2nd quarter worth approximately $215,000. Finally, O Neil Global Advisors Inc. boosted its holdings 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 valued at $229,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Insiders Place Their Bets

In other 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 completion of the transaction, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was 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 in the company, valued at $27,096,912.60. This represents 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 company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on VRNS. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Truist Financial restated a “buy” rating and set a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Piper Sandler raised their target price on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

Varonis Systems Stock Down 2.2 %

VRNS opened at $51.08 on Friday. 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, Inc. has a 12 month low of $36.87 and a 12 month high of $60.58. The stock has a market capitalization of $5.74 billion, a P/E ratio of -68.11 and a beta of 0.82. The business has a 50 day simple moving average of $55.20 and a 200-day simple moving average of $50.65.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $148.07 million during 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%. Varonis Systems’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.22) earnings per share. On average, equities analysts anticipate 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.