38,700 Varonis Systems, Inc. $VRNS Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 69.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,932 shares of the technology company’s stock after selling 38,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Varonis Systems were worth $803,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in VRNS. American Capital Management Inc. bought a new stake in Varonis Systems during the 2nd quarter valued at approximately $94,062,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in Varonis Systems during the 2nd quarter valued at $61,262,000. Senvest Management LLC grew its position in Varonis Systems by 406.1% in the 1st quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company’s stock worth $31,109,000 after purchasing an additional 1,162,651 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Varonis Systems during the 2nd quarter worth about $30,733,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Varonis Systems by 218.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,409,487 shares of the technology company’s stock valued at $30,262,000 after buying an additional 966,817 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Key Stories Impacting Varonis Systems

Here are the key news stories impacting Varonis Systems this week:

• Positive Sentiment: Q3 revenue and adjusted earnings increased, while SaaS annual recurring revenue also rose—supporting the company’s cloud transition and recurring-revenue growth. Article: Varonis Systems stock posts Q3 revenue growth as SaaS ARR rises
• Neutral Sentiment: TD Cowen assigned Varonis a Hold rating, signaling a more cautious, wait-and-see view. Article: Varonis Systems gets a Hold from TD Cowen
• Neutral Sentiment: A director’s reported purchase of 1,015 shares is a modest insider-confidence signal, though the transaction was dated February 19 and the shares were bought at $25.72. SEC Form 4 filing
• Negative Sentiment: Susquehanna downgraded VRNS from Positive to Neutral and cut its target from $55 to $49.75, leaving limited indicated upside at the cited share price. Susquehanna rating information
• Negative Sentiment: Cantor Fitzgerald also reduced its target from $55 to $49.75, despite retaining an Overweight rating. The cut reinforces concerns about valuation after the stock’s strong run. Cantor Fitzgerald rating information

Varonis Systems Stock Down 0.1%

Varonis Systems stock opened at $48.73 on Friday. The stock has a 50-day simple moving average of $47.53 and a 200 day simple moving average of $35.86. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.02. Varonis Systems, Inc. has a 12-month low of $19.70 and a 12-month high of $50.31.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. Varonis Systems had a negative net margin of 21.38% and a negative return on equity of 21.47%. The firm had revenue of $189.46 million during the quarter, compared to analysts’ expectations of $186.74 million. During the same quarter last year, the company posted $0.06 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts predict that Varonis Systems, Inc. will post -0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on VRNS shares. Cantor Fitzgerald cut their price target on Varonis Systems from $55.00 to $49.75 and set an “overweight” rating for the company in a report on Wednesday. DA Davidson lowered shares of Varonis Systems from a “buy” rating to a “neutral” rating and lowered their price target for the company from $55.00 to $49.75 in a report on Friday, October 16th. Piper Sandler lowered shares of Varonis Systems from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $58.00 to $49.75 in a research report on Friday, October 16th. Royal Bank Of Canada lowered shares of Varonis Systems from an “outperform” rating to a “neutral” rating in a research report on Friday, October 16th. Finally, Yorkville Ives initiated coverage on Varonis Systems in a research report on Monday, October 5th. They set an “in-line” rating and a $50.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $50.39.

Varonis Systems Company Profile

Varonis Systems, Inc develops data security software that helps organizations protect sensitive information, identify security risks and manage access to data. Its platform is designed to secure data stored across on-premises file systems, cloud environments, software-as-a-service applications and other enterprise repositories.

The company’s products support data discovery and classification, access analysis, threat detection, insider-risk monitoring, data loss prevention and security automation.