MetLife Investment Management LLC Reduces Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

MetLife Investment Management LLC lessened its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,320 shares of the technology company’s stock after selling 1,259 shares during the quarter. MetLife Investment Management LLC’s holdings in Varonis Systems were worth $3,521,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the period. International Assets Investment Management LLC boosted its stake 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 worth $140,000 after buying an additional 2,442 shares during the period. KBC Group NV boosted its stake in Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after buying an additional 663 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Varonis Systems during the third quarter worth about $184,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Varonis Systems during the second quarter worth about $215,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VRNS. Wedbush reaffirmed an “outperform” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Monday, August 26th. UBS Group raised their price objective 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. Barclays raised their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.67.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Varonis Systems Stock Performance

Shares of Varonis Systems stock opened at $50.76 on Wednesday. The firm’s fifty day simple moving average is $54.28 and its 200-day simple moving average is $51.17. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of -67.68 and a beta of 0.80. Varonis Systems, Inc. has a 12 month low of $41.13 and a 12 month high of $60.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81.

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

Varonis Systems Company 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.