Banque Cantonale Vaudoise Sells 11,782 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Banque Cantonale Vaudoise lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 21.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,082 shares of the technology company's stock after selling 11,782 shares during the period. Banque Cantonale Vaudoise's holdings in Varonis Systems were worth $2,378,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings 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 valued at $29,000 after buying an additional 423 shares during the period. International Assets Investment Management LLC raised its holdings 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 valued at $140,000 after buying an additional 2,442 shares during the period. KBC Group NV raised its holdings in shares of Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company's stock valued at $184,000 after buying an additional 663 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Varonis Systems in the 2nd quarter valued at $215,000. Finally, 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 valued at $229,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on VRNS. Needham & Company LLC restated a "hold" rating on shares of Varonis Systems in a report on Tuesday, July 30th. Susquehanna upped their price target on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" 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 report on Tuesday, July 30th. Robert W. Baird upped their price objective on Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Finally, 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. Five 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.67.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS traded up $0.43 on Wednesday, reaching $49.97. 973,107 shares of the company's stock were exchanged, compared to its average volume of 1,355,071. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of -66.63 and a beta of 0.82. Varonis Systems, Inc. has a fifty-two week low of $38.62 and a fifty-two week high of $60.58. The business's 50-day moving average is $55.13 and its two-hundred day moving average is $50.78. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The business had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. As a group, equities research analysts forecast that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Insider Activity

In other Varonis Systems news, Vice Chairman James O'boyle sold 50,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now directly owns 444,114 shares of the company's stock, valued at approximately $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following 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 disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

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.