Public Employees Retirement System of Ohio reduced its holdings in shares of Varonis Systems Inc (NASDAQ:VRNS) by 14.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,829 shares of the technology company’s stock after selling 3,803 shares during the quarter. Public Employees Retirement System of Ohio owned 0.08% of Varonis Systems worth $1,414,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in VRNS. Meeder Asset Management Inc. acquired a new stake in Varonis Systems in the second quarter valued at $48,000. Wealthcare Advisory Partners LLC bought a new stake in Varonis Systems during the first quarter valued at $83,000. Amundi Pioneer Asset Management Inc. bought a new stake in Varonis Systems during the first quarter valued at $131,000. Aperio Group LLC bought a new stake in Varonis Systems during the second quarter valued at $192,000. Finally, Northeast Financial Consultants Inc bought a new stake in Varonis Systems during the first quarter valued at $209,000. Institutional investors own 93.61% of the company’s stock.
VRNS has been the subject of several recent research reports. Benchmark upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, July 30th. Barclays boosted their target price on shares of Varonis Systems from $71.00 to $81.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Wedbush boosted their target price on shares of Varonis Systems from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Robert W. Baird set a $80.00 target price on shares of Varonis Systems and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, ValuEngine upgraded shares of Varonis Systems from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Varonis Systems has a consensus rating of “Buy” and a consensus price target of $74.33.
Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, July 29th. The technology company reported ($0.79) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.16). The company had revenue of $59.62 million during the quarter, compared to the consensus estimate of $62.37 million. Varonis Systems had a negative net margin of 17.73% and a negative return on equity of 40.22%. Sell-side analysts expect that Varonis Systems Inc will post -2.32 EPS for the current fiscal year.
In related news, SVP James O’boyle sold 15,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $77.30, for a total value of $1,159,500.00. Following the completion of the transaction, the senior vice president now owns 101,379 shares in the company, valued at approximately $7,836,596.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ohad Korkus sold 6,861 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $80.00, for a total transaction of $548,880.00. Following the completion of the transaction, the director now owns 29,013 shares of the company’s stock, valued at approximately $2,321,040. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.
Varonis Systems Company Profile
Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.
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