Cubist Systematic Strategies LLC Acquires New Position in Varonis Systems Inc (VRNS)

Cubist Systematic Strategies LLC acquired a new stake in shares of Varonis Systems Inc (NASDAQ:VRNS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,262 shares of the technology company’s stock, valued at approximately $304,000.

A number of other hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp lifted its stake in Varonis Systems by 5.9% during 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 in the last quarter. NorthCoast Asset Management LLC lifted its stake in Varonis Systems by 1.1% during the second quarter. NorthCoast Asset Management LLC now owns 39,241 shares of the technology company’s stock valued at $1,460,000 after buying an additional 426 shares in the last quarter. Legal & General Group Plc lifted its stake in Varonis Systems by 39.6% during 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 in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Varonis Systems during the second quarter valued at about $122,000. Finally, Swiss National Bank increased its holdings in shares of Varonis Systems by 16.6% in the 2nd quarter. Swiss National Bank now owns 24,618 shares of the technology company’s stock valued at $916,000 after purchasing an additional 3,500 shares during the period. 84.46% of the stock is owned by institutional investors.

In related news, CEO Yakov Faitelson sold 9,417 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $51.27, for a total value of $482,809.59. Following the transaction, the chief executive officer now owns 211,572 shares in the company, valued at $10,847,296.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ohad Korkus sold 45,763 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $51.16, for a total value of $2,341,235.08. Following the completion of the transaction, the insider now owns 84,510 shares in the company, valued at approximately $4,323,531.60. The disclosure for this sale can be found here. Insiders sold 337,384 shares of company stock worth $16,734,434 in the last 90 days. 19.50% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on VRNS. Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Varonis Systems in a report on Friday, December 1st. Barclays reiterated a “neutral” rating on shares of Varonis Systems in a report on Tuesday, December 19th. Royal Bank of Canada reiterated a “buy” rating and issued a $55.00 target price on shares of Varonis Systems in a report on Thursday, December 7th. Oppenheimer reiterated a “buy” rating and issued a $57.00 target price on shares of Varonis Systems in a report on Wednesday, December 13th. Finally, Zacks Investment Research upgraded Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Thursday, November 2nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $49.70.

Varonis Systems Inc (NASDAQ:VRNS) opened at $51.40 on Friday. Varonis Systems Inc has a twelve month low of $25.20 and a twelve month high of $53.60. The firm has a market capitalization of $1,450.00, a PE ratio of -88.62 and a beta of 0.80.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.06 EPS for the quarter. Varonis Systems had a negative return on equity of 18.97% and a negative net margin of 7.91%. The firm had revenue of $53.60 million for the quarter, compared to the consensus estimate of $50.53 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The firm’s revenue was up 31.1% on a year-over-year basis. equities research analysts expect that Varonis Systems Inc will post -0.53 earnings per share for the current year.

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About Varonis Systems

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.

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

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