GSA Capital Partners LLP Sells 21,766 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

GSA Capital Partners LLP lowered its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 67.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,434 shares of the technology company’s stock after selling 21,766 shares during the period. GSA Capital Partners LLP’s holdings in Varonis Systems were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in VRNS. Hood River Capital Management LLC grew its position in Varonis Systems by 40.8% in the first quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company’s stock valued at $76,032,000 after purchasing an additional 466,688 shares in the last quarter. WCM Investment Management LLC bought a new position in Varonis Systems in the third quarter valued at $17,419,000. Squarepoint Ops LLC grew its position in Varonis Systems by 167.9% in the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock valued at $21,755,000 after purchasing an additional 284,236 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Varonis Systems by 40.0% in the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock valued at $38,361,000 after purchasing an additional 228,589 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Varonis Systems by 1.4% in the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock valued at $530,978,000 after purchasing an additional 155,040 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

Shares of Varonis Systems stock opened at $49.24 on Tuesday. Varonis Systems, Inc. has a twelve month low of $38.46 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 company has a 50-day simple moving average of $55.20 and a two-hundred day simple moving average of $50.70. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of -68.11 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business had revenue of $148.07 million during the quarter, compared to analysts’ expectations of $141.62 million. During the same quarter in the previous year, the company earned ($0.22) EPS. The business’s revenue was up 21.1% on a year-over-year basis. Analysts forecast that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction dated 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 directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

VRNS has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Piper Sandler increased their price target on shares of 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 increased their price target 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. Finally, Barclays increased their price target 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. Five research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.67.

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.