Nisa Investment Advisors LLC raised its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 200.0% during the 1st quarter, HoldingsChannel reports. The firm owned 3,720 shares of the technology company’s stock after acquiring an additional 2,480 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Varonis Systems were worth $191,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. purchased a new position in Varonis Systems in the fourth quarter valued at about $34,000. Harbor Investment Advisory LLC grew its stake in Varonis Systems by 200.0% in the first quarter. Harbor Investment Advisory LLC now owns 792 shares of the technology company’s stock worth $41,000 after purchasing an additional 528 shares in the last quarter. Advisory Services Network LLC acquired a new position in Varonis Systems in the fourth quarter valued at approximately $65,000. Amundi Pioneer Asset Management Inc. acquired a new position in Varonis Systems in the first quarter valued at approximately $131,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Varonis Systems by 103.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 953 shares of the technology company’s stock valued at $156,000 after buying an additional 485 shares during the last quarter.
In other Varonis Systems news, VP Gilad Raz sold 18,030 shares of the business’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $185.08, for a total value of $3,336,992.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Den Bosch Fred Van sold 1,500 shares of the company’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $187.97, for a total value of $281,955.00. Following the transaction, the director now directly owns 47,484 shares in the company, valued at approximately $8,925,567.48. The disclosure for this sale can be found here. In the last three months, insiders sold 282,299 shares of company stock worth $40,933,811. Insiders own 2.70% of the company’s stock.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Sunday, May 2nd. The technology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. The company had revenue of $74.79 million for the quarter, compared to analyst estimates of $69.02 million. Varonis Systems had a negative return on equity of 97.77% and a negative net margin of 33.75%. The business’s revenue was up 38.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.56) earnings per share. On average, equities research analysts predict that Varonis Systems, Inc. will post -2.73 earnings per share for the current year.
A number of research analysts recently issued reports on the company. Zacks Investment Research raised Varonis Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 14th. Berenberg Bank raised Varonis Systems from a “hold” rating to a “buy” rating and set a $84.33 price target on the stock in a research report on Thursday, February 25th. Truist lifted their price target on Varonis Systems from $68.33 to $73.33 in a research report on Tuesday, February 9th. Morgan Stanley lifted their price target on Varonis Systems from $50.67 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 28th. Finally, FBN Securities initiated coverage on Varonis Systems in a research report on Tuesday, April 13th. They issued an “outperform” rating and a $65.00 price target on the stock. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $62.93.
Varonis Systems Profile
Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, 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; strategic and product plans; and other intellectual property.
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