NBC Securities Inc. Sells 233 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

NBC Securities Inc. lowered its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 11.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,738 shares of the technology company’s stock after selling 233 shares during the period. NBC Securities Inc.’s holdings in Varonis Systems were worth $98,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Varonis Systems by 1.4% in the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after purchasing an additional 155,040 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Varonis Systems by 4.6% during the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock valued at $137,885,000 after buying an additional 127,129 shares during the period. William Blair Investment Management LLC grew its position in Varonis Systems by 1.1% during the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock valued at $106,396,000 after buying an additional 23,231 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Varonis Systems by 126.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock valued at $90,336,000 after buying an additional 1,070,821 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Varonis Systems by 8.9% in the second quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company’s stock worth $78,517,000 after acquiring an additional 133,109 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on VRNS. Wedbush restated an “outperform” rating and issued a $67.00 price objective on shares of Varonis Systems in a research note on Monday, August 26th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their price objective on Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Susquehanna raised their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company upped their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.67.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $59.43 on Monday. The company has a market cap of $6.63 billion, a price-to-earnings ratio of -63.22 and a beta of 0.82. Varonis Systems, Inc. has a 1 year low of $30.89 and a 1 year high of $60.58. The stock’s 50 day simple moving average is $55.88 and its two-hundred day simple moving average is $49.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $130.35 million for the quarter, compared to analysts’ expectations of $124.83 million. During the same quarter in the previous year, the business posted ($0.35) earnings per share. Varonis Systems’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Activity

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the sale, the insider now directly owns 494,114 shares of the company’s stock, valued at $25,219,578.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

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.