Varonis Systems, Inc. (NASDAQ:VRNS) Stock Position Cut by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 45.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,780 shares of the technology company’s stock after selling 5,552 shares during the period. Mackenzie Financial Corp’s holdings in Varonis Systems were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lord Abbett & CO. LLC acquired a new position in shares of Varonis Systems during the third quarter valued at approximately $36,317,000. Cadian Capital Management LP raised its stake in shares of Varonis Systems by 34.6% in the 3rd quarter. Cadian Capital Management LP now owns 3,574,334 shares of the technology company’s stock worth $109,160,000 after buying an additional 919,334 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Varonis Systems by 30.0% in the third quarter. Loomis Sayles & Co. L P now owns 1,424,248 shares of the technology company’s stock valued at $43,496,000 after buying an additional 329,045 shares during the period. William Blair Investment Management LLC boosted its stake in Varonis Systems by 6.7% during the third quarter. William Blair Investment Management LLC now owns 3,252,160 shares of the technology company’s stock valued at $99,321,000 after buying an additional 205,105 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Varonis Systems during the third quarter worth about $5,757,000. 95.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the transaction, the director now owns 75,682 shares in the company, valued at $3,945,302.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of Varonis Systems stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $52.13, for a total value of $260,650.00. Following the completion of the sale, the director now directly owns 75,682 shares in the company, valued at $3,945,302.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Bass sold 116,325 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $50.32, for a total transaction of $5,853,474.00. Following the completion of the sale, the executive vice president now directly owns 650,972 shares of the company’s stock, valued at $32,756,911.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 372,419 shares of company stock worth $18,571,413. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on VRNS shares. Citigroup raised their price objective on shares of Varonis Systems from $35.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Varonis Systems from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Robert W. Baird increased their price objective on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. JMP Securities restated a “market outperform” rating and issued a $63.00 target price on shares of Varonis Systems in a report on Monday, February 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $56.00 target price on shares of Varonis Systems in a report on Friday, March 15th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Varonis Systems has an average rating of “Moderate Buy” and an average target price of $48.81.

Varonis Systems Price Performance

NASDAQ VRNS opened at $45.33 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of -49.27 and a beta of 0.85. The company has a 50 day simple moving average of $47.54 and a 200-day simple moving average of $43.64. Varonis Systems, Inc. has a 52-week low of $22.34 and a 52-week high of $52.88.

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

Varonis Systems 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.