SG Americas Securities LLC Reduces Position in Varonis Systems, Inc. (NASDAQ:VRNS)

SG Americas Securities LLC lowered its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 94.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,012 shares of the technology company’s stock after selling 88,341 shares during the quarter. SG Americas Securities LLC’s holdings in Varonis Systems were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Varonis Systems in the second quarter valued at about $3,838,000. Algert Global LLC purchased a new stake in shares of Varonis Systems in the second quarter valued at about $527,000. The Manufacturers Life Insurance Company grew its holdings in shares of Varonis Systems by 40.0% in 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 purchasing an additional 228,589 shares during the period. EVR Research LP grew its holdings in shares of Varonis Systems by 41.3% in the second quarter. EVR Research LP now owns 325,000 shares of the technology company’s stock valued at $15,590,000 after purchasing an additional 95,000 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in shares of Varonis Systems by 167.9% in the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock valued at $21,755,000 after purchasing an additional 284,236 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VRNS. Needham & Company LLC reissued a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and set a $60.00 price target (up from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. TD Cowen lifted their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their price target on shares of Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, Susquehanna boosted their target price on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.67.

Varonis Systems Stock Up 0.3 %

Varonis Systems stock opened at $59.43 on Monday. Varonis Systems, Inc. has a twelve month low of $30.89 and a twelve month high of $60.58. The stock’s fifty day simple moving average is $55.88 and its 200-day simple moving average is $49.42. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $6.63 billion, a P/E ratio of -63.22 and a beta of 0.82.

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 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 for the quarter, compared to analyst estimates of $124.83 million. During the same quarter in the prior year, the company earned ($0.35) earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, equities analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

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.