Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 45.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,797 shares of the technology company's stock after selling 47,028 shares during the quarter. Edgestream Partners L.P. owned approximately 0.05% of Varonis Systems worth $3,209,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position 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 in the last quarter. International Assets Investment Management LLC boosted 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 in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Varonis Systems in the 3rd quarter worth approximately $184,000. KBC Group NV raised its stake in shares of Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company's stock worth $184,000 after acquiring an additional 663 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Varonis Systems during the second quarter valued at approximately $215,000. Hedge funds and other institutional investors own 95.65% of the company's stock.

Insider Activity

In other news, Vice Chairman James O'boyle sold 50,000 shares of the 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 sale, the insider now directly owns 444,114 shares of the company's stock, valued at $26,540,252.64. This represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction dated 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 approximately $27,096,912.60. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Piper Sandler boosted their target price on Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. UBS Group increased 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. Barclays raised their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Finally, Wedbush restated an "outperform" rating and set a $67.00 price objective on shares of Varonis Systems in a 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 stock. Based on data from MarketBeat.com, Varonis Systems has an average rating of "Moderate Buy" and an average target price of $59.67.

Varonis Systems Stock Performance

NASDAQ VRNS traded up $0.27 on Monday, reaching $50.23. 2,482,422 shares of the company's stock traded hands, compared to its average volume of 1,367,888. Varonis Systems, Inc. has a fifty-two week low of $41.13 and a fifty-two week high of $60.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of -66.97 and a beta of 0.80. The stock has a 50 day moving average price of $54.40 and a 200-day moving average price of $51.12.

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, topping analysts' consensus estimates of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company's revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.22) earnings per share. Equities research analysts predict that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal 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.