State of New Jersey Common Pension Fund D Sells 24,112 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

State of New Jersey Common Pension Fund D decreased its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 36.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,496 shares of the technology company’s stock after selling 24,112 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Varonis Systems were worth $1,991,000 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 the company. Quadrant Capital Group LLC raised its holdings in shares of Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after buying an additional 429 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Varonis Systems in the 1st quarter valued at approximately $63,000. NBC Securities Inc. bought a new stake in shares of Varonis Systems during the 1st quarter valued at approximately $68,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Varonis Systems in the fourth quarter valued at approximately $77,000. Finally, Assetmark Inc. bought a new stake in shares of Varonis Systems during the fourth quarter worth $98,000. 95.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on VRNS shares. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. TD Cowen lifted their price target on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Robert W. Baird upgraded shares of Varonis Systems from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $52.00 to $60.00 in a report on Tuesday, July 30th. Finally, Piper Sandler boosted their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.33.

Insider Activity at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total value of $3,828,000.00. Following the transaction, the insider now owns 494,114 shares in the company, valued at $25,219,578.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Varonis Systems Price Performance

Shares of VRNS opened at $55.88 on Friday. The firm has a market cap of $6.27 billion, a PE ratio of -59.45 and a beta of 0.81. Varonis Systems, Inc. has a 52-week low of $29.47 and a 52-week high of $58.32. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. The business’s 50 day moving average price is $53.06 and its two-hundred day moving average price is $48.15.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The business had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. During the same period last year, the company posted ($0.35) earnings per share. The business’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

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.