Hanseatic Management Services Inc. Sells 11,446 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Hanseatic Management Services Inc. decreased its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 68.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,296 shares of the technology company's stock after selling 11,446 shares during the period. Hanseatic Management Services Inc.'s holdings in Varonis Systems were worth $235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its position 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 worth $29,000 after acquiring an additional 423 shares during the period. International Assets Investment Management LLC lifted its position in 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 during the period. KBC Group NV boosted its stake in Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company's stock worth $184,000 after buying an additional 663 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Varonis Systems in the 3rd quarter valued at $184,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Varonis Systems in the 2nd quarter valued at $215,000. Institutional investors own 95.65% of the company's stock.

Insider Activity

In other news, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Varonis Systems Trading Down 3.7 %

Shares of NASDAQ VRNS traded down $1.69 during mid-day trading on Friday, hitting $44.19. The company's stock had a trading volume of 2,419,146 shares, compared to its average volume of 1,048,088. The company's fifty day simple moving average is $47.57 and its 200-day simple moving average is $51.63. Varonis Systems, Inc. has a one year low of $41.13 and a one year high of $60.58. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of -58.92 and a beta of 0.83. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its 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 net margin of 15.31% and a negative return on equity of 17.58%. The company had revenue of $148.07 million during the quarter, compared to analysts' expectations of $141.62 million. During the same quarter in the previous year, the company posted ($0.22) EPS. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on VRNS. DA Davidson lowered their target price on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research note on Thursday, December 12th. Needham & Company LLC reiterated a "buy" rating and issued a $67.00 price objective on shares of Varonis Systems in a research note on Monday, January 6th. Citigroup cut their target price on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday. Cantor Fitzgerald began coverage on Varonis Systems in a research report on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price target on the stock. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $65.00 price objective on shares of Varonis Systems in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.44.

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.