Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 85,843 shares of the technology company’s stock after selling 3,713 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.08% of Varonis Systems worth $4,118,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Varonis Systems by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after buying an additional 155,040 shares during the last quarter. First Trust Advisors LP increased its position in Varonis Systems by 7.9% during the 4th quarter. First Trust Advisors LP now owns 4,426,593 shares of the technology company’s stock worth $200,436,000 after purchasing an additional 325,347 shares in the last quarter. William Blair Investment Management LLC increased its position in Varonis Systems by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after purchasing an additional 23,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Varonis Systems by 126.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock worth $90,336,000 after purchasing an additional 1,070,821 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Varonis Systems by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company’s stock worth $78,517,000 after purchasing an additional 133,109 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on VRNS. Robert W. Baird upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $52.00 to $60.00 in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upgraded Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $50.00 to $54.00 in a research report on Friday, June 14th. TD Cowen lifted their price objective on Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Truist Financial restated a “buy” rating and issued a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Finally, Piper Sandler lifted their price target on Varonis Systems from $45.00 to $48.00 and gave the company 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 stock. According to data from MarketBeat.com, Varonis Systems has a consensus rating of “Moderate Buy” and a consensus price target of $56.33.

Varonis Systems Stock Up 1.4 %

Shares of NASDAQ:VRNS opened at $55.88 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. Varonis Systems, Inc. has a 1 year low of $29.47 and a 1 year high of $58.32. The stock has a market capitalization of $6.23 billion, a P/E ratio of -59.45 and a beta of 0.81. The stock has a 50-day simple moving average of $53.06 and a 200-day simple moving average of $48.14.

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

Insider Buying and Selling

In related 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 transaction, the insider now directly owns 494,114 shares of the company’s stock, valued at approximately $25,219,578.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

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.