Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 19.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 906,294 shares of the technology company’s stock after selling 213,911 shares during the period. Varonis Systems makes up approximately 1.1% of Penserra Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Penserra Capital Management LLC’s holdings in Varonis Systems were worth $51,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. EFG Asset Management North America Corp. grew its holdings in Varonis Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock worth $2,181,000 after buying an additional 216 shares in the last quarter. O Neil Global Advisors Inc. grew its stake in shares of Varonis Systems by 4.8% in the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after purchasing an additional 220 shares in the last quarter. Hanseatic Management Services Inc. grew its stake in shares of Varonis Systems by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock worth $770,000 after purchasing an additional 275 shares in the last quarter. Xponance Inc. increased its holdings in shares of Varonis Systems by 5.6% during the second quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after purchasing an additional 367 shares during the period. Finally, Natixis Advisors LLC raised its stake in shares of Varonis Systems by 3.5% during the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after purchasing an additional 401 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

NASDAQ VRNS opened at $50.02 on Friday. Varonis Systems, Inc. has a 1 year low of $39.56 and a 1 year high of $60.58. The stock’s 50-day moving average price is $54.98 and its two-hundred day moving average price is $50.81. The company has a market cap of $5.63 billion, a PE ratio of -66.69 and a beta of 0.82. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05.

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, beating analysts’ consensus estimates 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 analyst estimates of $141.62 million. During the same quarter in the previous year, the business earned ($0.22) earnings per share. The firm’s revenue was up 21.1% compared to the same quarter last year. On average, analysts predict that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Insider Activity

In other news, CFO Guy Melamed sold 91,345 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 $26,540,252.64. The trade was a 10.12 % 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.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Baird R W raised shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Susquehanna raised their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, July 30th. Truist Financial reissued a “buy” rating and set a $60.00 target price (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Wells Fargo & Company increased their price target on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 30th. Five investment 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

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.