Clal Insurance Enterprises Holdings Ltd Cuts Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Clal Insurance Enterprises Holdings Ltd lessened its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 440,000 shares of the technology company’s stock after selling 50,000 shares during the quarter. Clal Insurance Enterprises Holdings Ltd owned 0.39% of Varonis Systems worth $24,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in VRNS. Farther Finance Advisors LLC grew its stake in shares of Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after buying an additional 423 shares during the last quarter. International Assets Investment Management LLC grew its position in Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,442 shares during the last quarter. KBC Group NV increased its stake in Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after purchasing an additional 663 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Varonis Systems in the second quarter valued at approximately $215,000. Finally, O Neil Global Advisors Inc. boosted its stake in shares of Varonis Systems by 4.8% during the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Truist Financial reaffirmed a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Piper Sandler increased their price objective on Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Varonis Systems presently has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Varonis Systems Stock Down 0.4 %

Shares of Varonis Systems stock opened at $50.02 on Friday. Varonis Systems, Inc. has a 1 year low of $39.56 and a 1 year high of $60.58. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of -66.69 and a beta of 0.82. The company has a 50-day moving average of $55.06 and a 200 day moving average of $50.77. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. During the same quarter last year, the firm earned ($0.22) earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman James O’boyle sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Varonis Systems Profile

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.