Coronation Fund Managers Ltd. Has $9.13 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Coronation Fund Managers Ltd. lowered its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 13.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 190,407 shares of the technology company’s stock after selling 28,909 shares during the quarter. Coronation Fund Managers Ltd. owned 0.17% of Varonis Systems worth $9,134,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Algert Global LLC bought a new position in Varonis Systems during the second quarter worth about $527,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Varonis Systems by 40.0% during the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock valued at $38,361,000 after acquiring an additional 228,589 shares during the period. EVR Research LP grew its holdings in shares of Varonis Systems by 41.3% in the 2nd quarter. EVR Research LP now owns 325,000 shares of the technology company’s stock worth $15,590,000 after purchasing an additional 95,000 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Varonis Systems by 167.9% during the 2nd quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock worth $21,755,000 after purchasing an additional 284,236 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Varonis Systems in the second quarter valued at about $260,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00. Following the sale, the insider now owns 494,114 shares of the company’s stock, valued at $25,219,578.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.

Varonis Systems Trading Down 2.6 %

VRNS opened at $55.02 on Wednesday. The firm’s fifty day simple moving average is $54.00 and its 200 day simple moving average is $48.43. The stock has a market capitalization of $6.13 billion, a P/E ratio of -58.53 and a beta of 0.81. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. Varonis Systems, Inc. has a 12 month low of $29.47 and a 12 month high of $58.32.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data 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. The company had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. Varonis Systems’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.35) earnings per share. As a group, research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their target price on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Truist Financial reissued 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. Susquehanna upped their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Finally, Barclays lifted their target price on Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.33.

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.