GSA Capital Partners LLP Lowers Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

GSA Capital Partners LLP cut its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 67.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,434 shares of the technology company's stock after selling 21,766 shares during the quarter. GSA Capital Partners LLP's holdings in Varonis Systems were worth $590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock valued at $29,000 after purchasing an additional 423 shares during the period. International Assets Investment Management LLC increased its stake in shares of 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 worth $140,000 after purchasing an additional 2,442 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems in the second quarter valued at approximately $215,000. O Neil Global Advisors Inc. raised its position 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 valued at $229,000 after purchasing an additional 220 shares during the period. Finally, Marshall Wace LLP bought a new position in Varonis Systems in the 2nd quarter worth approximately $260,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 30th. Truist Financial reiterated a "buy" rating and issued a $60.00 target price (up from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. Baird R W raised Varonis Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 30th. Finally, Piper Sandler boosted their price objective on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.67.

Varonis Systems Trading Up 0.6 %

NASDAQ VRNS traded up $0.30 during trading on Tuesday, hitting $49.54. The company had a trading volume of 1,408,172 shares, compared to its average volume of 1,355,331. Varonis Systems, Inc. has a one year low of $38.46 and a one year high of $60.58. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The company's fifty day moving average is $55.17 and its 200-day moving average is $50.74. The company has a market cap of $5.57 billion, a price-to-earnings ratio of -66.16 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $148.07 million during the quarter, compared to analysts' expectations of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The firm's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.22) earnings per share. On average, sell-side analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Insider Activity

In other Varonis Systems news, 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 of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. 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 value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares of the company's stock, valued at approximately $26,540,252.64. This trade represents 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.

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.