Wesbanco Bank Inc. Sells 13,961 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Wesbanco Bank Inc. decreased its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 14.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 81,200 shares of the technology company’s stock after selling 13,961 shares during the quarter. Wesbanco Bank Inc.’s holdings in Varonis Systems were worth $3,608,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in 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 purchasing an additional 423 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after acquiring an additional 2,442 shares during the period. KBC Group NV lifted its stake in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after acquiring an additional 663 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Varonis Systems during the 3rd quarter valued at about $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Varonis Systems during the 2nd quarter valued at about $215,000. Institutional investors own 95.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective 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. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price objective on the stock. Piper Sandler reduced their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.44.

Insider Buying and Selling

In related news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction that occurred on 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. The trade was a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $44.87 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The business has a fifty day moving average of $47.27 and a two-hundred day moving average of $51.58. Varonis Systems, Inc. has a 52-week low of $41.13 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. 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 prior year, the company posted ($0.22) EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.7 EPS for the current fiscal year.

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.