Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. trimmed its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 34.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,336 shares of the technology company’s stock after selling 52,794 shares during the period. Hodges Capital Management Inc. owned about 0.09% of Varonis Systems worth $4,827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VRNS. Rhumbline Advisers lifted its position in shares of Varonis Systems by 3.2% during the third quarter. Rhumbline Advisers now owns 162,050 shares of the technology company’s stock worth $4,949,000 after purchasing an additional 5,041 shares in the last quarter. Northern Trust Corp lifted its position in shares of Varonis Systems by 0.4% during the third quarter. Northern Trust Corp now owns 1,097,508 shares of the technology company’s stock worth $33,518,000 after purchasing an additional 4,081 shares in the last quarter. Natixis Advisors L.P. acquired a new position in shares of Varonis Systems during the third quarter worth $308,000. Legal & General Group Plc lifted its position in shares of Varonis Systems by 3.3% during the third quarter. Legal & General Group Plc now owns 1,104,946 shares of the technology company’s stock worth $33,745,000 after purchasing an additional 35,153 shares in the last quarter. Finally, Seven Eight Capital LP lifted its position in shares of Varonis Systems by 170.8% during the third quarter. Seven Eight Capital LP now owns 35,975 shares of the technology company’s stock worth $1,099,000 after purchasing an additional 22,691 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on VRNS shares. Truist Financial reissued a “buy” rating and set a $55.00 target price (up from $50.00) on shares of Varonis Systems in a research report on Wednesday, March 13th. Robert W. Baird lifted their price target on shares of Varonis Systems from $48.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. raised shares of Varonis Systems from a “neutral” rating to an “overweight” rating and upped their price target for the company from $50.00 to $54.00 in a report on Friday, June 14th. Royal Bank of Canada upped their price target on shares of Varonis Systems from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a report on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.31.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $47.97 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.38 and a quick ratio of 2.38. Varonis Systems, Inc. has a 1-year low of $25.55 and a 1-year high of $52.88. The company’s fifty day moving average is $43.96 and its two-hundred day moving average is $45.85.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, May 6th. The technology company reported ($0.37) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.37). Varonis Systems had a negative net margin of 20.38% and a negative return on equity of 21.33%. The business had revenue of $114.02 million for the quarter, compared to analysts’ expectations of $113.81 million. Equities research analysts forecast that Varonis Systems, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yakov Faitelson sold 284,211 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $45.23, for a total value of $12,854,863.53. Following the sale, the chief executive officer now owns 1,452,922 shares of the company’s stock, valued at approximately $65,715,662.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

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.