Advantage Alpha Capital Partners LP Decreases Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Advantage Alpha Capital Partners LP decreased its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 60.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,841 shares of the technology company's stock after selling 105,790 shares during the quarter. Advantage Alpha Capital Partners LP owned about 0.06% of Varonis Systems worth $3,946,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. EFG Asset Management North America Corp. increased its stake in Varonis Systems by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company's stock valued at $2,181,000 after purchasing an additional 216 shares in the last quarter. O Neil Global Advisors Inc. raised 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 worth $229,000 after acquiring an additional 220 shares during the last quarter. Hanseatic Management Services Inc. lifted its position in Varonis Systems by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company's stock valued at $770,000 after acquiring an additional 275 shares in the last quarter. Xponance Inc. boosted its stake in Varonis Systems by 5.6% during the 2nd 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 last quarter. Finally, Natixis Advisors LLC increased its holdings in Varonis Systems by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company's stock worth $572,000 after purchasing an additional 401 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VRNS has been the topic of several analyst reports. Susquehanna lifted their target price on Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research report on Tuesday, July 30th. Baird R W upgraded shares of Varonis Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Finally, Piper Sandler increased their price objective 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. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.67.

Varonis Systems Price Performance

VRNS traded down $0.20 on Tuesday, hitting $49.91. The company's stock had a trading volume of 1,494,909 shares, compared to its average volume of 1,365,954. Varonis Systems, Inc. has a 12 month low of $39.67 and a 12 month high of $60.58. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The company's 50 day simple moving average is $54.91 and its 200-day simple moving average is $50.92.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. During the same period last year, the company earned ($0.22) earnings per share. The business's revenue for the quarter was up 21.1% on a year-over-year basis. Equities research analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Activity at Varonis Systems

In other Varonis Systems news, Vice Chairman James O'boyle sold 50,000 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the transaction, the chief financial officer now owns 504,598 shares of the company's stock, 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. 2.60% of the stock is owned by corporate insiders.

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.