Victory Capital Management Inc. Sells 70,614 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Victory Capital Management Inc. cut its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 702,739 shares of the technology company’s stock after selling 70,614 shares during the quarter. Victory Capital Management Inc.’s holdings in Varonis Systems were worth $39,705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after acquiring an additional 423 shares during the period. International Assets Investment Management LLC raised its holdings in Varonis Systems by 5,550.0% during the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after acquiring an additional 2,442 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems in the second quarter worth about $215,000. O Neil Global Advisors Inc. increased its holdings in shares of Varonis Systems by 4.8% in the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after purchasing an additional 220 shares during the last quarter. Finally, Stephens Inc. AR bought a new stake in shares of Varonis Systems in the third quarter worth about $276,000. 95.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VRNS shares. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Barclays boosted their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. TD Cowen boosted their price objective on Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Varonis Systems currently has an average rating of “Moderate Buy” and a consensus price target of $59.67.

Varonis Systems Stock Down 2.2 %

Shares of NASDAQ VRNS opened at $51.08 on Friday. 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 firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of -68.11 and a beta of 0.82. The stock has a 50 day moving average price of $55.20 and a 200 day moving average price of $50.56. Varonis Systems, Inc. has a 52-week low of $36.87 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $148.07 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.22) earnings per share. Sell-side analysts expect that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Guy Melamed sold 91,345 shares of the business’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 transaction, the chief financial officer now owns 504,598 shares of the company’s stock, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

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.