Varonis Systems, Inc. (NASDAQ:VRNS) Stock Holdings Decreased by Harvey Partners LLC

Harvey Partners LLC trimmed its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 582,000 shares of the technology company’s stock after selling 29,000 shares during the period. Varonis Systems accounts for about 3.7% of Harvey Partners LLC’s portfolio, making the stock its 9th largest position. Harvey Partners LLC’s holdings in Varonis Systems were worth $32,883,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after purchasing an additional 423 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after buying an additional 2,442 shares in the last quarter. KBC Group NV raised its position in shares of Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after buying an additional 663 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Varonis Systems in the third quarter worth about $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Varonis Systems during the second quarter worth approximately $215,000. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $50.23 on Tuesday. The firm has a fifty day moving average price of $54.40 and a 200-day moving average price of $51.12. Varonis Systems, Inc. has a 1 year low of $41.13 and a 1 year high of $60.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. During the same quarter last year, the company earned ($0.22) EPS. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. Analysts anticipate that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, Vice Chairman James O’boyle sold 50,000 shares of the company’s stock in a transaction dated 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 owns 444,114 shares in the company, valued at approximately $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares in the company, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on VRNS shares. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. UBS Group upped their target price on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Varonis Systems in a report on Monday, August 26th. Finally, Robert W. Baird boosted their price target on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.67.

Varonis Systems Company 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.