Federated Hermes Inc. Sells 223,018 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Federated Hermes Inc. cut its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 73.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,223 shares of the technology company's stock after selling 223,018 shares during the period. Federated Hermes Inc. owned about 0.07% of Varonis Systems worth $3,285,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Trust Advisors LP lifted its position in Varonis Systems by 4.8% during the 4th quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company's stock worth $111,145,000 after buying an additional 113,573 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of Varonis Systems by 12.3% in the fourth quarter. Hood River Capital Management LLC now owns 2,116,882 shares of the technology company's stock worth $94,053,000 after acquiring an additional 231,998 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Varonis Systems by 28.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,953,810 shares of the technology company's stock worth $86,807,000 after purchasing an additional 431,306 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Varonis Systems by 14.7% during the first quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company's stock worth $64,904,000 after purchasing an additional 205,781 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its position in shares of Varonis Systems by 52.2% during the first quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock worth $62,376,000 after purchasing an additional 529,182 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Price Performance

Shares of VRNS stock traded up $0.63 on Wednesday, reaching $55.72. The company's stock had a trading volume of 1,074,188 shares, compared to its average volume of 1,569,118. The company has a market capitalization of $6.24 billion, a P/E ratio of -60.57 and a beta of 0.71. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The stock's 50 day simple moving average is $51.10 and its 200-day simple moving average is $45.67. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $152.16 million for the quarter, compared to analysts' expectations of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. As a group, equities analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRNS has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Varonis Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $50.00 to $65.00 in a research report on Thursday, July 24th. Wall Street Zen upgraded Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Needham & Company LLC upped their target price on shares of Varonis Systems from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Wells Fargo & Company lifted their price target on shares of Varonis Systems from $46.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Finally, Susquehanna raised their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research note on Wednesday, July 30th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and an average target price of $57.31.

Insider Buying and Selling at Varonis Systems

In related news, CFO Guy Melamed sold 51,889 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the transaction, the chief financial officer owned 470,602 shares in the company, valued at $25,930,170.20. The trade was a 9.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Den Bosch Fred Van sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $55.08, for a total value of $165,240.00. Following the transaction, the director owned 128,666 shares of the company's stock, valued at approximately $7,086,923.28. This represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,889 shares of company stock valued at $3,324,324 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

Varonis Systems Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.