Russell Investments Group Ltd. Sells 51,920 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Russell Investments Group Ltd. trimmed its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 228,329 shares of the technology company’s stock after selling 51,920 shares during the quarter. Russell Investments Group Ltd. owned about 0.21% of Varonis Systems worth $10,339,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas grew its position in shares of Varonis Systems by 4.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 8,502 shares of the technology company’s stock worth $260,000 after buying an additional 356 shares during the period. Arizona State Retirement System grew its holdings in Varonis Systems by 3.3% during the 3rd quarter. Arizona State Retirement System now owns 31,238 shares of the technology company’s stock worth $954,000 after acquiring an additional 1,011 shares during the period. Blair William & Co. IL lifted its stake in shares of Varonis Systems by 8.7% in the 3rd quarter. Blair William & Co. IL now owns 12,770 shares of the technology company’s stock valued at $390,000 after purchasing an additional 1,022 shares during the period. Y.D. More Investments Ltd boosted its position in shares of Varonis Systems by 9.6% in the 3rd quarter. Y.D. More Investments Ltd now owns 15,356 shares of the technology company’s stock worth $485,000 after purchasing an additional 1,341 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Varonis Systems by 1,779.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,886 shares during the period. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Trading Down 1.0 %

Shares of VRNS stock opened at $43.77 on Monday. The company has a fifty day moving average price of $47.08 and a two-hundred day moving average price of $44.15. Varonis Systems, Inc. has a one year low of $22.35 and a one year high of $52.88. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.51.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The firm had revenue of $154.10 million for the quarter, compared to analyst estimates of $151.64 million. On average, research analysts anticipate that Varonis Systems, Inc. will post -0.96 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on VRNS. Wedbush raised Varonis Systems from a “neutral” rating to an “outperform” rating and increased their target price for the company from $35.00 to $65.00 in a research note on Tuesday, February 6th. Stephens reiterated an “overweight” rating and issued a $55.00 target price on shares of Varonis Systems in a report on Tuesday, February 6th. Citigroup boosted their price target on shares of Varonis Systems from $35.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Robert W. Baird raised their price objective on Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Finally, Wells Fargo & Company boosted their target price on Varonis Systems from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.81.

Insiders Place Their Bets

In other news, VP Dov Gottlieb sold 43,091 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the completion of the sale, the vice president now owns 227,654 shares in the company, valued at approximately $10,931,945.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.13, for a total transaction of $260,650.00. Following the transaction, the director now owns 75,682 shares in the company, valued at approximately $3,945,302.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dov Gottlieb sold 43,091 shares of Varonis Systems stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total value of $2,069,229.82. Following the sale, the vice president now directly owns 227,654 shares of the company’s stock, valued at approximately $10,931,945.08. The disclosure for this sale can be found here. Insiders sold a total of 372,419 shares of company stock valued at $18,571,413 over the last ninety days. 2.60% of the stock is currently owned by company 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.