Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 9.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 702,739 shares of the technology company's stock after selling 70,614 shares during the period. Victory Capital Management Inc. owned about 0.62% of Varonis Systems worth $39,705,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. WCM Investment Management LLC purchased a new stake in Varonis Systems during the third quarter worth about $17,419,000. Lisanti Capital Growth LLC boosted its position in Varonis Systems by 17.0% in the 3rd quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company's stock valued at $4,198,000 after buying an additional 10,820 shares during the period. Los Angeles Capital Management LLC purchased a new position in Varonis Systems in the 3rd quarter valued at approximately $1,045,000. Assetmark Inc. grew its stake in shares of Varonis Systems by 31.0% in the third quarter. Assetmark Inc. now owns 5,814 shares of the technology company's stock worth $328,000 after acquiring an additional 1,375 shares in the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of Varonis Systems during the third quarter worth $457,000. 95.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD Cowen upped their price target on Varonis Systems from $54.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. 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. Barclays boosted their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Finally, Piper Sandler boosted their target price on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.67.

Insider Transactions at Varonis Systems

In related 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 transaction, the insider now directly owns 444,114 shares of the company's stock, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the business's 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 sale, the chief financial officer now directly owns 504,598 shares of the company's stock, valued at approximately $27,096,912.60. This trade 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.

Varonis Systems Stock Performance

VRNS traded down $1.15 during trading on Friday, reaching $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 debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The company's fifty day moving average price is $55.20 and its 200-day moving average price is $50.60. Varonis Systems, Inc. has a 52-week low of $36.87 and a 52-week high of $60.58. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -68.11 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 (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $148.07 million during the quarter, compared to analysts' expectations 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 quarter in the prior year, the business posted ($0.22) earnings per share. On average, equities analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

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.