Alliancebernstein L.P. lowered its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 30.7% during the first quarter, Holdings Channel reports. The institutional investor owned 8,820 shares of the technology company’s stock after selling 3,900 shares during the period. Alliancebernstein L.P.’s holdings in Varonis Systems were worth $280,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. American International Group Inc. raised its stake in Varonis Systems by 7.1% in the first quarter. American International Group Inc. now owns 6,588 shares of the technology company’s stock worth $209,000 after buying an additional 437 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Varonis Systems during the first quarter worth about $223,000. Oxford Asset Management purchased a new stake in shares of Varonis Systems during the first quarter worth about $263,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Varonis Systems during the first quarter worth about $286,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Varonis Systems during the first quarter worth about $315,000. 64.93% of the stock is currently owned by institutional investors.

Varonis Systems, Inc. (VRNS) traded down 0.81% on Tuesday, hitting $36.80. The company’s stock had a trading volume of 6,274 shares. Varonis Systems, Inc. has a 12 month low of $24.45 and a 12 month high of $40.00. The firm has a 50 day moving average of $37.67 and a 200-day moving average of $33.31. The stock’s market cap is $1.01 billion.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. The company had revenue of $50.20 million during the quarter, compared to the consensus estimate of $47.50 million. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. Varonis Systems’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the business posted ($0.12) earnings per share. On average, analysts expect that Varonis Systems, Inc. will post $0.09 earnings per share for the current fiscal year.

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VRNS has been the topic of a number of recent research reports. Zacks Investment Research lowered Varonis Systems from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. Benchmark Co. initiated coverage on Varonis Systems in a research report on Thursday, April 27th. They issued a “buy” rating and a $40.00 target price on the stock. Needham & Company LLC initiated coverage on Varonis Systems in a research report on Monday, May 1st. They issued a “buy” rating and a $38.00 target price on the stock. Stifel Nicolaus lifted their target price on Varonis Systems from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Finally, Barclays PLC reissued a “hold” rating and issued a $37.00 target price on shares of Varonis Systems in a research report on Sunday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Varonis Systems has a consensus rating of “Buy” and an average price target of $42.60.

In related news, Director Gili Iohan sold 12,382 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $36.49, for a total transaction of $451,819.18. Following the completion of the sale, the director now directly owns 62,450 shares of the company’s stock, valued at $2,278,800.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 6,562 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $39.50, for a total value of $259,199.00. Following the sale, the chief financial officer now directly owns 104,653 shares of the company’s stock, valued at $4,133,793.50. The disclosure for this sale can be found here. Insiders have sold 344,998 shares of company stock valued at $13,084,586 over the last ninety days. 19.50% of the stock is currently owned by company insiders.

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, Data 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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Institutional Ownership by Quarter for Varonis Systems (NASDAQ:VRNS)

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