Kornitzer Capital Management Inc. KS Sells 55,240 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Kornitzer Capital Management Inc. KS cut its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 11.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 415,970 shares of the technology company's stock after selling 55,240 shares during the period. Kornitzer Capital Management Inc. KS owned 0.37% of Varonis Systems worth $23,502,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of VRNS. Olympiad Research LP acquired a new position in shares of Varonis Systems during the 3rd quarter worth approximately $457,000. Principal Financial Group Inc. increased its holdings in shares of Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after purchasing an additional 147,081 shares during the last quarter. Hanseatic Management Services Inc. raised its position in shares of Varonis Systems by 4.3% in the third quarter. Hanseatic Management Services Inc. now owns 16,742 shares of the technology company's stock valued at $946,000 after purchasing an additional 691 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Varonis Systems by 39.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 26,964 shares of the technology company's stock worth $1,523,000 after buying an additional 7,627 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock worth $29,000 after buying an additional 423 shares during the period. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Varonis Systems

In other news, Vice Chairman James O'boyle sold 50,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

Varonis Systems Price Performance

VRNS traded down $0.15 during trading on Thursday, hitting $53.19. 1,096,214 shares of the stock traded hands, compared to its average volume of 1,345,567. Varonis Systems, Inc. has a twelve month low of $34.66 and a twelve month high of $60.58. The business has a 50 day moving average price of $55.53 and a 200 day moving average price of $50.27. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market cap of $5.98 billion, a price-to-earnings ratio of -71.12 and a beta of 0.82.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Varonis Systems in a report on Tuesday, July 30th. Susquehanna lifted 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. UBS Group boosted their price target on Varonis Systems from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Baird R W upgraded Varonis Systems from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price 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. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Varonis Systems has a consensus rating of "Moderate Buy" and an average target price of $58.75.

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.