New York State Common Retirement Fund Sells 69,011 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

New York State Common Retirement Fund lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 58.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,691 shares of the technology company’s stock after selling 69,011 shares during the quarter. New York State Common Retirement Fund’s holdings in Varonis Systems were worth $2,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB boosted its position in Varonis Systems by 23.9% during the fourth quarter. Handelsbanken Fonder AB now owns 21,800 shares of the technology company’s stock valued at $987,000 after purchasing an additional 4,200 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in Varonis Systems by 31.0% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 486,510 shares of the technology company’s stock valued at $22,029,000 after purchasing an additional 115,000 shares in the last quarter. Xponance Inc. bought a new stake in Varonis Systems during the fourth quarter valued at about $300,000. Strs Ohio boosted its position in Varonis Systems by 61.4% during the fourth quarter. Strs Ohio now owns 11,300 shares of the technology company’s stock valued at $511,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Cerity Partners LLC acquired a new stake in Varonis Systems in the fourth quarter worth about $219,000. Institutional investors own 95.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler raised their price target on Varonis Systems from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. Wells Fargo & Company raised their price target on Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. raised their price target on Varonis Systems from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. JMP Securities reissued a “market outperform” rating and issued a $63.00 price target on shares of Varonis Systems in a report on Monday, February 5th. Finally, Robert W. Baird lifted their target price on Varonis Systems from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Varonis Systems has a consensus rating of “Moderate Buy” and a consensus price target of $49.06.

Varonis Systems Stock Up 0.9 %

Shares of VRNS stock opened at $45.00 on Wednesday. The stock has a market cap of $5.02 billion, a P/E ratio of -48.91 and a beta of 0.84. Varonis Systems, Inc. has a twelve month low of $22.87 and a twelve month high of $52.88. The stock has a 50 day moving average of $46.85 and a 200 day moving average of $44.32. 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 posted its quarterly earnings data on Monday, February 5th. The technology company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $151.64 million. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. As a group, sell-side analysts expect that Varonis Systems, Inc. will post -0.96 EPS for the current year.

Insider Activity

In other news, CFO Guy Melamed sold 188,503 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.88, for a total value of $9,402,529.64. Following the completion of the sale, the chief financial officer now directly owns 645,876 shares in the company, valued at $32,216,294.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Guy Melamed sold 188,503 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.88, for a total value of $9,402,529.64. Following the completion of the transaction, the chief financial officer now directly owns 645,876 shares of the company’s stock, valued at approximately $32,216,294.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gili Iohan sold 19,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the completion of the transaction, the director now directly owns 19,263 shares of the company’s stock, valued at $973,552.02. The disclosure for this sale can be found here. Insiders sold 372,419 shares of company stock worth $18,571,413 over the last three months. 2.60% of the stock is currently owned by corporate 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.