Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise reduced its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,864 shares of the technology company’s stock after selling 2,532 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Varonis Systems were worth $2,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in VRNS. Quadrant Capital Group LLC grew its holdings in shares of Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after purchasing an additional 429 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Varonis Systems during the first quarter worth approximately $63,000. NBC Securities Inc. purchased a new stake in Varonis Systems during the first quarter worth approximately $68,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Varonis Systems in the fourth quarter worth $77,000. Finally, Assetmark Inc. purchased a new position in shares of Varonis Systems in the 4th quarter valued at $98,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Stock Up 0.9 %

Shares of VRNS traded up $0.53 during midday trading on Friday, hitting $56.60. The company had a trading volume of 1,155,738 shares, compared to its average volume of 1,261,354. The company’s 50 day moving average price is $51.02 and its 200 day moving average price is $47.75. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of -60.21 and a beta of 0.82. Varonis Systems, Inc. has a 52 week low of $29.47 and a 52 week high of $58.32. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. The company had revenue of $130.35 million during the quarter, compared to the consensus estimate of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.35) EPS. On average, equities research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00. Following the completion of the sale, the insider now owns 494,114 shares of the company’s stock, valued at approximately $25,219,578.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VRNS. Wells Fargo & Company lifted 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. Robert W. Baird upgraded shares of Varonis Systems from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $52.00 to $60.00 in a report on Tuesday, July 30th. Truist Financial restated a “buy” rating and set a $60.00 target price (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. JPMorgan Chase & Co. upgraded shares of Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $50.00 to $54.00 in a report on Friday, June 14th. Finally, Susquehanna lifted their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

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.