38,700 Varonis Systems, Inc. $VRNS Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems cut its Varonis stake by 69.6%, selling 38,700 shares in the third quarter and retaining 16,932 shares valued at about $803,000.
• Institutional investors and hedge funds own 95.65% of Varonis shares; several investors added to or initiated positions, indicating mixed institutional activity.
• Varonis beat quarterly earnings and revenue estimates, with revenue up 17.3% year over year, while analysts’ consensus rating remained Hold and the average price target was $50.39.

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 69.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,932 shares of the technology company's stock after selling 38,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Varonis Systems were worth $803,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Capital Management Inc. acquired a new position in shares of Varonis Systems during the second quarter worth approximately $94,062,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in Varonis Systems during the 2nd quarter valued at about $61,262,000. Senvest Management LLC increased its stake in Varonis Systems by 406.1% during the 1st quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company's stock valued at $31,109,000 after buying an additional 1,162,651 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Varonis Systems in the 2nd quarter worth approximately $30,733,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Varonis Systems by 218.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,409,487 shares of the technology company's stock valued at $30,262,000 after acquiring an additional 966,817 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Varonis Systems

Here are the key news stories impacting Varonis Systems this week:

• Positive Sentiment: Q3 revenue and adjusted earnings increased, while SaaS annual recurring revenue also rose—supporting the company’s cloud transition and recurring-revenue growth. Article: Varonis Systems stock posts Q3 revenue growth as SaaS ARR rises
• Neutral Sentiment: TD Cowen assigned Varonis a Hold rating, signaling a more cautious, wait-and-see view. Article: Varonis Systems gets a Hold from TD Cowen
• Neutral Sentiment: A director’s reported purchase of 1,015 shares is a modest insider-confidence signal, though the transaction was dated February 19 and the shares were bought at $25.72. SEC Form 4 filing
• Negative Sentiment: Susquehanna downgraded VRNS from Positive to Neutral and cut its target from $55 to $49.75, leaving limited indicated upside at the cited share price. Susquehanna rating information
• Negative Sentiment: Cantor Fitzgerald also reduced its target from $55 to $49.75, despite retaining an Overweight rating. The cut reinforces concerns about valuation after the stock’s strong run. Cantor Fitzgerald rating information

Varonis Systems Trading Down 0.1%

Varonis Systems stock opened at $48.73 on Friday. The firm's 50 day moving average price is $47.53 and its two-hundred day moving average price is $35.86. Varonis Systems, Inc. has a twelve month low of $19.70 and a twelve month high of $50.31. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.02.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.06. Varonis Systems had a negative return on equity of 21.47% and a negative net margin of 21.38%. The firm had revenue of $189.46 million during the quarter, compared to analysts' expectations of $186.74 million. During the same quarter last year, the firm earned $0.06 earnings per share. The business's revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts forecast that Varonis Systems, Inc. will post -0.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VRNS. TD Cowen downgraded Varonis Systems from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $56.00 to $49.75 in a research note on Friday, October 16th. Weiss Ratings raised shares of Varonis Systems from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, October 23rd. New Street Research reissued a "buy" rating on shares of Varonis Systems in a research note on Wednesday, July 29th. DA Davidson lowered Varonis Systems from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $55.00 to $49.75 in a research note on Friday, October 16th. Finally, Needham & Company LLC lowered Varonis Systems from a "buy" rating to a "hold" rating in a research report on Friday, October 16th. Four investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $50.39.

Varonis Systems Profile

Varonis Systems, Inc develops data security software that helps organizations protect sensitive information, identify security risks and manage access to data. Its platform is designed to secure data stored across on-premises file systems, cloud environments, software-as-a-service applications and other enterprise repositories.

The company's products support data discovery and classification, access analysis, threat detection, insider-risk monitoring, data loss prevention and security automation.

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