Federated Hermes Inc. Lowers Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Federated Hermes Inc. lessened its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 73.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,223 shares of the technology company's stock after selling 223,018 shares during the quarter. Federated Hermes Inc. owned 0.07% of Varonis Systems worth $3,285,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VRNS. Alliancebernstein L.P. increased its stake in Varonis Systems by 1.0% in the fourth quarter. Alliancebernstein L.P. now owns 138,977 shares of the technology company's stock worth $6,175,000 after purchasing an additional 1,381 shares during the period. Franklin Resources Inc. increased its stake in Varonis Systems by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company's stock worth $1,786,000 after buying an additional 424 shares during the period. ExodusPoint Capital Management LP bought a new position in Varonis Systems in the 4th quarter worth about $560,000. Wells Fargo & Company MN increased its position in shares of Varonis Systems by 214.4% during the fourth quarter. Wells Fargo & Company MN now owns 389,563 shares of the technology company's stock worth $17,308,000 after acquiring an additional 265,647 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Varonis Systems during the fourth quarter valued at approximately $447,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Stock Down 2.0%

Shares of VRNS traded down $1.09 during mid-day trading on Friday, hitting $53.28. 612,515 shares of the company traded hands, compared to its average volume of 1,561,460. The company has a market capitalization of $5.97 billion, a PE ratio of -57.97 and a beta of 0.71. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32. The business has a 50 day moving average of $51.41 and a 200 day moving average of $45.80. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The business had revenue of $152.16 million for the quarter, compared to analyst estimates of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. Varonis Systems's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS. Equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Insider Transactions at Varonis Systems

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on VRNS shares. UBS Group increased their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Morgan Stanley dropped their target price on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group upgraded Varonis Systems from a "hold" rating to a "buy" rating and upped their target price for the stock from $50.00 to $65.00 in a report on Thursday, July 24th. Wedbush raised their price objective on Varonis Systems from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. cut their target price on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Varonis Systems has a consensus rating of "Moderate Buy" and an average price target of $57.31.

About Varonis Systems

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.