WINTON GROUP Ltd lessened its stake in shares of Varonis Systems Inc (NASDAQ:VRNS) by 11.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,362 shares of the technology company’s stock after selling 916 shares during the period. WINTON GROUP Ltd’s holdings in Varonis Systems were worth $539,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Hussman Strategic Advisors Inc. purchased a new position in shares of Varonis Systems during the third quarter valued at approximately $1,099,000. Emerald Mutual Fund Advisers Trust boosted its position in shares of Varonis Systems by 0.7% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 609,600 shares of the technology company’s stock valued at $44,653,000 after buying an additional 4,160 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in shares of Varonis Systems during the third quarter valued at approximately $265,000. Congress Asset Management Co. MA boosted its position in shares of Varonis Systems by 3.2% during the third quarter. Congress Asset Management Co. MA now owns 54,998 shares of the technology company’s stock valued at $4,029,000 after buying an additional 1,692 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Varonis Systems by 25.9% during the third quarter. First Trust Advisors LP now owns 414,699 shares of the technology company’s stock valued at $30,377,000 after buying an additional 85,409 shares during the period. 82.70% of the stock is owned by institutional investors.
Several research analysts have issued reports on the company. BidaskClub lowered Varonis Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 20th. Barclays dropped their target price on Varonis Systems from $79.00 to $74.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of Varonis Systems in a research report on Monday, July 30th. Morgan Stanley set a $70.00 price target on Varonis Systems and gave the company a “hold” rating in a report on Friday, October 19th. Finally, Needham & Company LLC boosted their price target on Varonis Systems to $90.00 and gave the company a “buy” rating in a report on Monday, September 17th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Varonis Systems currently has an average rating of “Buy” and an average target price of $73.88.
In related news, CFO Guy Melamed sold 844 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $72.35, for a total value of $61,063.40. Following the completion of the transaction, the chief financial officer now owns 130,212 shares of the company’s stock, valued at $9,420,838.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.20% of the company’s stock.
Shares of NASDAQ VRNS opened at $59.14 on Monday. The company has a market capitalization of $1.74 billion, a P/E ratio of -118.28 and a beta of 0.95. Varonis Systems Inc has a 52-week low of $47.00 and a 52-week high of $83.10.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, October 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.23. The firm had revenue of $67.05 million during the quarter, compared to analyst estimates of $64.47 million. Varonis Systems had a negative return on equity of 26.27% and a negative net margin of 11.53%. Varonis Systems’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share. As a group, research analysts expect that Varonis Systems Inc will post -0.9 EPS for the current fiscal year.
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Varonis Systems Profile
Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.
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