Eagle Asset Management Inc. Trims Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Eagle Asset Management Inc. reduced its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 6.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 393,413 shares of the technology company's stock after selling 28,205 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.35% of Varonis Systems worth $20,607,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VRNS. Farther Finance Advisors LLC raised its holdings in 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 acquiring an additional 423 shares during the period. International Assets Investment Management LLC increased its stake in shares of Varonis Systems by 5,550.0% during 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 lifted its holdings in 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 purchasing an additional 663 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Varonis Systems in the 2nd quarter valued at $215,000. Finally, O Neil Global Advisors Inc. lifted its holdings in shares of Varonis Systems by 4.8% during the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company's stock worth $229,000 after buying an additional 220 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Stock Down 0.4 %

Shares of Varonis Systems stock traded down $0.18 during trading on Friday, reaching $50.02. 1,528,731 shares of the company traded hands, compared to its average volume of 2,033,396. The firm has a market capitalization of $5.63 billion, a PE ratio of -66.69 and a beta of 0.82. Varonis Systems, Inc. has a 1-year low of $39.56 and a 1-year high of $60.58. The company has a 50 day moving average price of $54.98 and a 200-day moving average price of $50.81. 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 announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping 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%. The company's quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.22) earnings per share. As a group, equities research analysts expect that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRNS has been the subject of several recent research reports. Wedbush reiterated an "outperform" rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Monday, August 26th. Royal Bank of Canada restated an "outperform" rating and issued a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Susquehanna upped 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. Wells Fargo & Company raised their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 30th. Finally, Truist Financial restated a "buy" rating and issued a $60.00 target price (up from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.67.

Insiders Place Their Bets

In other Varonis Systems 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 value of $2,988,000.00. Following the completion of the sale, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was 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 directly owns 504,598 shares in the company, 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. Corporate insiders own 2.60% of the company's stock.

Varonis Systems Company Profile

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.