Edgestream Partners L.P. Sells 47,028 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Edgestream Partners L.P. trimmed its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 45.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,797 shares of the technology company’s stock after selling 47,028 shares during the quarter. Edgestream Partners L.P.’s holdings in Varonis Systems were worth $3,209,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Scalar Gauge Management LLC bought a new stake in Varonis Systems during the 3rd quarter worth about $2,260,000. BlueCrest Capital Management Ltd bought a new stake in Varonis Systems during the 3rd quarter worth about $2,865,000. PDT Partners LLC bought a new stake in Varonis Systems during the 3rd quarter worth about $2,294,000. Fred Alger Management LLC raised its holdings in Varonis Systems by 16.5% during the 3rd quarter. Fred Alger Management LLC now owns 72,294 shares of the technology company’s stock worth $4,085,000 after purchasing an additional 10,255 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Varonis Systems by 11.3% during the 3rd quarter. Captrust Financial Advisors now owns 8,263 shares of the technology company’s stock worth $467,000 after purchasing an additional 837 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wedbush reissued an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a report on Monday, August 26th. Barclays upped their price target on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Piper Sandler upped their price target on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird upped their price target on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Varonis Systems has an average rating of “Moderate Buy” and an average target price of $59.67.

Insider Transactions at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Varonis Systems Trading Up 0.8 %

NASDAQ:VRNS opened at $49.96 on Monday. Varonis Systems, Inc. has a twelve month low of $40.48 and a twelve month high of $60.58. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The business has a 50 day moving average price of $54.52 and a two-hundred day moving average price of $51.07. The company has a market cap of $5.62 billion, a P/E ratio of -66.61 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS) last released 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. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The firm had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. During the same quarter in the prior year, the firm posted ($0.22) EPS. The business’s revenue was up 21.1% on a year-over-year basis. As a group, analysts expect that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal 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.