Quest Partners LLC Cuts Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Quest Partners LLC reduced its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 61.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,783 shares of the technology company’s stock after selling 9,104 shares during the period. Quest Partners LLC’s holdings in Varonis Systems were worth $327,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. EFG Asset Management North America Corp. lifted its position in Varonis Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock valued at $2,181,000 after buying an additional 216 shares in the last quarter. O Neil Global Advisors Inc. lifted its holdings in shares of Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after acquiring an additional 220 shares in the last quarter. Hanseatic Management Services Inc. boosted its position in Varonis Systems by 1.7% during the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock worth $770,000 after purchasing an additional 275 shares during the period. Xponance Inc. increased its holdings in Varonis Systems by 5.6% in the 2nd quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after purchasing an additional 367 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in Varonis Systems by 3.5% in the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after purchasing an additional 401 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Trading Up 0.2 %

Shares of NASDAQ VRNS opened at $50.11 on Tuesday. The stock’s 50 day moving average price is $54.98 and its two-hundred day moving average price is $50.88. Varonis Systems, Inc. has a 52-week low of $39.67 and a 52-week high of $60.58. The stock has a market capitalization of $5.64 billion, a P/E ratio of -66.81 and a beta of 0.82. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $141.62 million. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. Varonis Systems’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, analysts anticipate that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VRNS. Wedbush reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a research report on Monday, August 26th. Susquehanna upped their target price on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, July 30th. Barclays upped their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. upped their target price on Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Insider Buying and Selling at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the sale, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. This represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the sale, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

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.