Sawgrass Asset Management LLC Purchases New Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Sawgrass Asset Management LLC purchased a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,776 shares of the technology company’s stock, valued at approximately $216,000.

Several other large investors have also bought and sold shares of the stock. Teacher Retirement System of Texas lifted its stake in Varonis Systems by 4.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 8,502 shares of the technology company’s stock valued at $260,000 after acquiring an additional 356 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Varonis Systems by 3.7% during the 4th quarter. Natixis Advisors L.P. now owns 10,441 shares of the technology company’s stock valued at $472,000 after acquiring an additional 370 shares in the last quarter. Arizona State Retirement System lifted its stake in Varonis Systems by 3.3% during the 3rd quarter. Arizona State Retirement System now owns 31,238 shares of the technology company’s stock valued at $954,000 after acquiring an additional 1,011 shares in the last quarter. Blair William & Co. IL lifted its stake in Varonis Systems by 8.7% during the 3rd quarter. Blair William & Co. IL now owns 12,770 shares of the technology company’s stock valued at $390,000 after acquiring an additional 1,022 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its stake in shares of Varonis Systems by 9.6% during the 3rd quarter. Y.D. More Investments Ltd now owns 15,356 shares of the technology company’s stock worth $485,000 after purchasing an additional 1,341 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of Varonis Systems stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $52.13, for a total transaction of $260,650.00. Following the completion of the transaction, the director now owns 75,682 shares of the company’s stock, valued at approximately $3,945,302.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Dov Gottlieb sold 43,091 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the completion of the transaction, the vice president now owns 227,654 shares of the company’s stock, valued at $10,931,945.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ofer Segev sold 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the transaction, the director now directly owns 75,682 shares of the company’s stock, valued at approximately $3,945,302.66. The disclosure for this sale can be found here. Insiders sold 372,419 shares of company stock valued at $18,571,413 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Varonis Systems Price Performance

VRNS stock traded up $0.41 during mid-day trading on Tuesday, reaching $45.00. 2,650,939 shares of the company traded hands, compared to its average volume of 1,188,769. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.50 and a quick ratio of 2.50. The company has a market capitalization of $5.02 billion, a P/E ratio of -48.91 and a beta of 0.84. Varonis Systems, Inc. has a 52-week low of $22.87 and a 52-week high of $52.88. The company has a fifty day moving average price of $46.85 and a 200-day moving average price of $44.32.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $154.10 million during the quarter, compared to analyst estimates of $151.64 million. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. As a group, analysts anticipate that Varonis Systems, Inc. will post -0.96 earnings per share for the current year.

Analyst Ratings Changes

VRNS has been the topic of a number of recent analyst reports. Citigroup lifted their target price on Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Wells Fargo & Company lifted their target price on Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. JMP Securities reiterated a “market outperform” rating and set a $63.00 target price on shares of Varonis Systems in a research note on Monday, February 5th. JPMorgan Chase & Co. lifted their target price on Varonis Systems from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Finally, Robert W. Baird lifted their target price on Varonis Systems from $48.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.06.

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.