Hanseatic Management Services Inc. Sells 11,446 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Hanseatic Management Services Inc. lessened its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 68.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,296 shares of the technology company’s stock after selling 11,446 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Varonis Systems were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans grew its holdings in shares of Varonis Systems by 4.6% in the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after purchasing an additional 127,129 shares during the last quarter. Geode Capital Management LLC grew its stake in Varonis Systems by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company’s stock worth $147,801,000 after acquiring an additional 29,050 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Varonis Systems by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after acquiring an additional 147,081 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Varonis Systems by 761.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock valued at $50,026,000 after acquiring an additional 995,274 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Varonis Systems by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock valued at $54,405,000 after purchasing an additional 59,218 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Down 3.7 %

Shares of VRNS stock opened at $44.19 on Friday. The stock’s fifty day moving average price is $47.57 and its 200 day moving average price is $51.60. Varonis Systems, Inc. has a 1-year low of $41.13 and a 1-year high of $60.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $148.07 million for 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%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. Sell-side analysts anticipate that Varonis Systems, Inc. will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VRNS shares. Citigroup decreased their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday. Robert W. Baird lifted their price objective on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Jefferies Financial Group dropped their target price on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Piper Sandler reduced their price target on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.44.

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.