Stanley Laman Group Ltd. bought a new position in shares of Varonis Systems Inc (NASDAQ:VRNS) in the fourth quarter, Holdings Channel reports. The firm bought 18,585 shares of the technology company’s stock, valued at approximately $902,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. CAPROCK Group Inc. acquired a new position in Varonis Systems during the fourth quarter worth about $220,000. Teacher Retirement System of Texas acquired a new position in Varonis Systems during the fourth quarter worth about $254,000. Schmidt P J Investment Management Inc. acquired a new position in Varonis Systems during the third quarter worth about $243,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Varonis Systems by 327.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,872 shares of the technology company’s stock worth $288,000 after acquiring an additional 5,263 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Varonis Systems during the third quarter worth about $304,000. Institutional investors own 84.81% of the company’s stock.
In related news, CTO Ohad Korkus sold 9,277 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $51.28, for a total transaction of $475,724.56. Following the completion of the transaction, the chief technology officer now owns 84,510 shares of the company’s stock, valued at $4,333,672.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 897 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $48.95, for a total transaction of $43,908.15. Following the transaction, the chief financial officer now directly owns 95,408 shares of the company’s stock, valued at approximately $4,670,221.60. The disclosure for this sale can be found here. Insiders have sold 223,754 shares of company stock valued at $11,352,516 in the last ninety days. 19.50% of the stock is currently owned by company insiders.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Varonis Systems had a negative net margin of 6.30% and a negative return on equity of 15.65%. The firm had revenue of $73.20 million during the quarter, compared to analyst estimates of $66.29 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. Varonis Systems’s revenue for the quarter was up 34.6% compared to the same quarter last year. research analysts anticipate that Varonis Systems Inc will post -0.77 earnings per share for the current fiscal year.
VRNS has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Thursday, November 2nd. Jefferies Group lifted their target price on shares of Varonis Systems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating on shares of Varonis Systems in a research report on Friday, November 3rd. Benchmark reissued a “buy” rating and issued a $60.00 price objective on shares of Varonis Systems in a research report on Friday, December 1st. Finally, Oppenheimer started coverage on shares of Varonis Systems in a research report on Wednesday, December 6th. They issued an “outperform” rating and a $57.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $57.92.
Varonis Systems 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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