Varonis Systems, Inc. (VRNS) is Ion Asset Management Ltd.’s 2nd Largest Position
Ion Asset Management Ltd. lessened its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,047,985 shares of the technology company’s stock after selling 17,932 shares during the period. Varonis Systems makes up about 12.8% of Ion Asset Management Ltd.’s investment portfolio, making the stock its 2nd biggest holding. Ion Asset Management Ltd. owned about 3.81% of Varonis Systems worth $38,985,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Varonis Systems in the second quarter valued at approximately $122,000. Fortaleza Asset Management Inc. acquired a new position in shares of Varonis Systems in the second quarter valued at approximately $151,000. Legal & General Group Plc boosted its holdings in shares of Varonis Systems by 39.6% in the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock valued at $159,000 after buying an additional 1,223 shares during the period. Adams Street Partners LLC acquired a new position in shares of Varonis Systems in the second quarter valued at approximately $163,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Varonis Systems by 5.9% in the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock valued at $197,000 after buying an additional 296 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Gili Iohan sold 10,000 shares of Varonis Systems stock in a transaction on Monday, July 10th. The shares were sold at an average price of $38.00, for a total value of $380,000.00. Following the completion of the sale, the director now owns 52,932 shares of the company’s stock, valued at approximately $2,011,416. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Yakov Faitelson sold 7,000 shares of Varonis Systems stock in a transaction on Monday, July 10th. The shares were sold at an average price of $38.00, for a total transaction of $266,000.00. Following the completion of the sale, the chief executive officer now directly owns 370,989 shares of the company’s stock, valued at approximately $14,097,582. The disclosure for this sale can be found here. In the last three months, insiders sold 609,977 shares of company stock valued at $24,359,243. 19.50% of the stock is currently owned by insiders.
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Shares of Varonis Systems, Inc. (NASDAQ VRNS) traded up 0.60% on Friday, reaching $41.90. 224,501 shares of the company traded hands. The firm has a 50-day moving average price of $38.41 and a 200 day moving average price of $35.18. The company’s market capitalization is $1.15 billion. Varonis Systems, Inc. has a one year low of $24.45 and a one year high of $43.05.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.09. Varonis Systems had a negative net margin of 9.03% and a negative return on equity of 20.94%. The business had revenue of $50.20 million during the quarter, compared to the consensus estimate of $47.50 million. During the same quarter last year, the firm posted ($0.12) EPS. Varonis Systems’s revenue was up 30.1% compared to the same quarter last year. Equities analysts forecast that Varonis Systems, Inc. will post $0.09 EPS for the current fiscal year.
Several research analysts have recently weighed in on VRNS shares. ValuEngine upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley upgraded shares of Varonis Systems from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $24.00 to $35.00 in a report on Wednesday, June 21st. Zacks Investment Research cut shares of Varonis Systems from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Barclays PLC reiterated a “hold” rating and issued a $45.00 price target on shares of Varonis Systems in a report on Wednesday, July 19th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $42.00 price target on shares of Varonis Systems in a report on Thursday, July 20th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Varonis Systems presently has a consensus rating of “Buy” and an average price target of $43.20.
Varonis Systems Company Profile
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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