The Manufacturers Life Insurance Company Sells 39,950 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

The Manufacturers Life Insurance Company lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 759,735 shares of the technology company's stock after selling 39,950 shares during the period. The Manufacturers Life Insurance Company owned 0.68% of Varonis Systems worth $42,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. WCM Investment Management LLC bought a new stake in Varonis Systems in the 3rd quarter valued at $17,419,000. Squarepoint Ops LLC increased its holdings in shares of Varonis Systems by 167.9% in the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company's stock worth $21,755,000 after purchasing an additional 284,236 shares during the last quarter. Principal Financial Group Inc. lifted its position 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 worth $100,789,000 after buying an additional 147,081 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Varonis Systems by 4.6% during the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company's stock valued at $137,885,000 after buying an additional 127,129 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Varonis Systems by 97.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 251,516 shares of the technology company's stock valued at $14,211,000 after buying an additional 124,368 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company's stock.

Insider Transactions at Varonis Systems

In other Varonis Systems news, Vice Chairman James O'boyle sold 50,000 shares of the company's stock in a transaction on 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 completion of the sale, the insider now owns 444,114 shares in the company, valued at $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 at the SEC website. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems 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 in the company, 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. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $65.00 price objective on shares of Varonis Systems in a report on Wednesday, October 30th. UBS Group increased their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Wedbush restated an "outperform" rating and set a $67.00 target price on shares of Varonis Systems in a research report on Monday, August 26th. Barclays lifted their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Finally, Piper Sandler upped their price objective on Varonis Systems from $48.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Varonis Systems presently has an average rating of "Moderate Buy" and an average price target of $59.67.

Varonis Systems Stock Up 0.8 %

Varonis Systems stock traded up $0.39 during trading hours on Friday, hitting $49.96. The company had a trading volume of 892,142 shares, compared to its average volume of 1,363,628. 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 50-day moving average price of $54.64 and a two-hundred day moving average price of $50.94. Varonis Systems, Inc. has a 1 year low of $40.48 and a 1 year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $148.07 million during 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 quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.22) earnings per share. On average, analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

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.