Migdal Insurance & Financial Holdings Ltd. Reduces Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Migdal Insurance & Financial Holdings Ltd. reduced its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,247 shares of the technology company’s stock after selling 3,062 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Varonis Systems were worth $1,290,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of VRNS. Dark Forest Capital Management LP purchased a new position in shares of Varonis Systems in the 1st quarter valued at approximately $26,000. Point72 Hong Kong Ltd purchased a new position in Varonis Systems during the second quarter valued at $30,000. Captrust Financial Advisors boosted its holdings in shares of Varonis Systems by 35.9% during the 1st quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock valued at $66,000 after buying an additional 366 shares in the last quarter. Comerica Bank purchased a new stake in shares of Varonis Systems in the 3rd quarter worth about $43,000. Finally, International Assets Investment Management LLC grew its position in shares of Varonis Systems by 1,779.2% in the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after buying an additional 1,886 shares during the period. 95.65% of the stock is owned by institutional investors.

Insider Activity at Varonis Systems

In other news, Director Ofer Segev sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the completion of the sale, the director now directly owns 75,682 shares in the company, valued at approximately $3,945,302.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Guy Melamed sold 188,503 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.88, for a total value of $9,402,529.64. Following the completion of the sale, the chief financial officer now directly owns 645,876 shares of the company’s stock, valued at $32,216,294.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ofer Segev sold 5,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $52.13, for a total transaction of $260,650.00. Following the sale, the director now owns 75,682 shares in the company, valued at $3,945,302.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 372,419 shares of company stock worth $18,571,413. 2.40% of the stock is owned by company insiders.

Varonis Systems Trading Down 1.0 %

Shares of Varonis Systems stock opened at $43.51 on Thursday. Varonis Systems, Inc. has a twelve month low of $22.34 and a twelve month high of $52.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.50 and a current ratio of 2.50. The company’s 50 day moving average is $48.34 and its 200 day moving average is $42.95.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The firm had revenue of $154.10 million for the quarter, compared to the consensus estimate of $151.64 million. Research analysts predict that Varonis Systems, Inc. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. JMP Securities reaffirmed a “market outperform” rating and set a $63.00 price objective on shares of Varonis Systems in a research report on Monday, February 5th. Piper Sandler boosted their target price on Varonis Systems from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Citigroup increased their target price on Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Finally, Stephens reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Varonis Systems in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and an average target price of $48.81.

Varonis Systems 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.