Natixis Advisors LLC Sells 8,730 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Natixis Advisors LLC cut its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 35.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,751 shares of the technology company's stock after selling 8,730 shares during the period. Natixis Advisors LLC's holdings in Varonis Systems were worth $637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of VRNS. Alliancebernstein L.P. raised its stake in Varonis Systems by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 138,977 shares of the technology company's stock worth $6,175,000 after acquiring an additional 1,381 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Varonis Systems by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company's stock valued at $1,786,000 after purchasing an additional 424 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Varonis Systems by 214.4% in the 4th quarter. Wells Fargo & Company MN now owns 389,563 shares of the technology company's stock valued at $17,308,000 after purchasing an additional 265,647 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Varonis Systems by 3.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 32,196 shares of the technology company's stock valued at $1,430,000 after purchasing an additional 962 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Varonis Systems by 0.4% in the 4th quarter. Legal & General Group Plc now owns 566,129 shares of the technology company's stock valued at $25,153,000 after purchasing an additional 2,330 shares in the last quarter. Institutional investors own 95.65% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on VRNS. Barclays boosted their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada boosted their target price on Varonis Systems from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Robert W. Baird boosted their target price on Varonis Systems from $58.00 to $63.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. reduced their target price on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Jefferies Financial Group raised Varonis Systems from a "hold" rating to a "buy" rating and boosted their target price for the stock from $50.00 to $65.00 in a report on Thursday, July 24th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $58.50.

Varonis Systems Trading Up 2.2%

Shares of Varonis Systems stock traded up $1.26 on Wednesday, hitting $58.10. 1,654,194 shares of the company's stock traded hands, compared to its average volume of 1,570,487. The firm's 50-day moving average price is $51.75 and its two-hundred day moving average price is $46.02. The stock has a market capitalization of $6.51 billion, a PE ratio of -63.15 and a beta of 0.71. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $152.16 million during 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 revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. On average, research analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $55.08, for a total value of $165,240.00. Following the completion of the sale, the director directly owned 128,666 shares in the company, valued at $7,086,923.28. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed sold 51,889 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer owned 470,602 shares of the company's stock, valued at $25,930,170.20. This trade represents a 9.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,889 shares of company stock valued at $3,324,324. 2.30% of the stock is owned by corporate insiders.

Varonis Systems Company 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.