Credit Agricole S A boosted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 79.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,380 shares of the technology company’s stock after buying an additional 17,400 shares during the period. Credit Agricole S A’s holdings in Varonis Systems were worth $1,253,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of VRNS. Russell Investments Group Ltd. purchased a new stake in shares of Varonis Systems during the fourth quarter valued at $3,189,000. State Street Corp increased its stake in shares of Varonis Systems by 10.6% in the fourth quarter. State Street Corp now owns 199,571 shares of the technology company’s stock valued at $5,348,000 after buying an additional 19,178 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Varonis Systems by 3.9% in the fourth quarter. Van ECK Associates Corp now owns 4,995 shares of the technology company’s stock valued at $134,000 after buying an additional 189 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of Varonis Systems by 122.0% in the fourth quarter. Federated Investors Inc. PA now owns 37,049 shares of the technology company’s stock valued at $993,000 after buying an additional 20,359 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Varonis Systems during the fourth quarter valued at $2,410,000. 61.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of Varonis Systems, Inc. (VRNS) opened at 37.70 on Friday. The stock’s market cap is $1.03 billion. The company’s 50-day moving average is $35.60 and its 200-day moving average is $30.53. Varonis Systems, Inc. has a 12-month low of $21.54 and a 12-month high of $37.70.
Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Thursday, May 4th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.07. The firm had revenue of $40.40 million during the quarter, compared to analyst estimates of $37.45 million. Varonis Systems had a negative net margin of 10.46% and a negative return on equity of 23.33%. Varonis Systems’s revenue was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.29) EPS.
A number of research firms recently commented on VRNS. Stifel Nicolaus raised shares of Varonis Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $36.00 in a report on Thursday, March 23rd. Zacks Investment Research raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, April 18th. Benchmark Co. began coverage on shares of Varonis Systems in a report on Thursday, April 27th. They set a “buy” rating and a $40.00 price objective on the stock. Needham & Company LLC began coverage on shares of Varonis Systems in a report on Monday, May 1st. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $40.00 price objective (up previously from $39.00) on shares of Varonis Systems in a report on Friday, May 5th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.33.
In other news, CFO Guy Melamed sold 5,074 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $37.50, for a total transaction of $190,275.00. Following the completion of the transaction, the chief financial officer now owns 98,991 shares in the company, valued at approximately $3,712,162.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Iv L.P. Evergreen sold 16,213 shares of the firm’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $31.00, for a total transaction of $502,603.00. The disclosure for this sale can be found here. Insiders sold a total of 759,825 shares of company stock valued at $25,069,489 in the last quarter. 19.50% of the stock is currently owned by 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, 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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