Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,672,709 shares of the technology company's stock after selling 201,679 shares during the period. Thrivent Financial for Lutherans owned 2.38% of Varonis Systems worth $151,008,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in VRNS. Farther Finance Advisors LLC grew its stake 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 valued at $29,000 after buying an additional 423 shares during the period. International Assets Investment Management LLC grew its stake 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 during the period. KBC Group NV grew its stake in shares of Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company's stock valued at $184,000 after buying an additional 663 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Varonis Systems in the 2nd quarter valued at approximately $215,000. Finally, O Neil Global Advisors Inc. grew its stake in shares of Varonis Systems by 4.8% in the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company's stock valued at $229,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 95.65% of the company's stock.

Insider Activity

In related news, 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 transaction of $4,905,226.50. Following the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman James O'boyle sold 50,000 shares of Varonis Systems 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 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 disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Varonis Systems Stock Down 2.2 %

VRNS stock traded down $1.15 during midday trading on Friday, hitting $51.08. The company's stock had a trading volume of 1,389,447 shares, compared to its average volume of 1,824,253. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems, Inc. has a 52-week low of $36.87 and a 52-week high of $60.58. The firm has a market capitalization of $5.74 billion, a P/E ratio of -68.11 and a beta of 0.82. The firm has a 50-day simple moving average of $55.20 and a 200-day simple moving average of $50.65.

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 for the quarter, beating analysts' consensus estimates 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 business had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same period last year, the business earned ($0.22) EPS. The company's revenue was up 21.1% on a year-over-year basis. As a group, equities analysts forecast that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Cowen increased their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Truist Financial reaffirmed a "buy" rating and set a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. Wells Fargo & Company increased 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Finally, Susquehanna increased their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a research report on Tuesday, July 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $59.67.

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.