Wesbanco Bank Inc. Has $3.61 Million Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Wesbanco Bank Inc. trimmed its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 14.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,200 shares of the technology company's stock after selling 13,961 shares during the period. Wesbanco Bank Inc. owned 0.07% of Varonis Systems worth $3,608,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in Varonis Systems by 21.7% during the second quarter. Renaissance Technologies LLC now owns 197,100 shares of the technology company's stock worth $9,455,000 after acquiring an additional 35,200 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Varonis Systems during the 2nd quarter worth approximately $215,000. Hsbc Holdings PLC lifted its holdings in shares of Varonis Systems by 127.4% in the 2nd quarter. Hsbc Holdings PLC now owns 56,409 shares of the technology company's stock worth $2,673,000 after purchasing an additional 31,600 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Varonis Systems in the 2nd quarter worth approximately $390,000. Finally, Bank of Montreal Can boosted its position in Varonis Systems by 12.1% during the 2nd quarter. Bank of Montreal Can now owns 646,261 shares of the technology company's stock valued at $31,098,000 after purchasing an additional 69,827 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS traded down $0.59 during trading hours on Thursday, hitting $44.28. 1,690,426 shares of the company's stock traded hands, compared to its average volume of 1,561,895. The company's fifty day simple moving average is $47.10 and its two-hundred day simple moving average is $51.53. The company has a market cap of $4.98 billion, a price-to-earnings ratio of -59.04 and a beta of 0.83. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. Varonis Systems, Inc. has a 52 week low of $41.13 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 15.31% and a negative return on equity of 17.58%. The firm's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.22) earnings per share. As a group, equities analysts anticipate that Varonis Systems, Inc. will post -0.7 EPS for the current fiscal year.

Insider Transactions at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler dropped their target price on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Barclays increased their price objective 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. UBS Group boosted their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. DA Davidson dropped their price target on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research note on Thursday, December 12th. Finally, Robert W. Baird lifted their price target on Varonis Systems from $60.00 to $62.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, thirteen 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 a consensus price target of $59.44.

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.