Mirae Asset Global Investments Co. Ltd. Sells 289,968 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Mirae Asset Global Investments Co. Ltd. lowered its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 25.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 844,298 shares of the technology company's stock after selling 289,968 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.77% of Varonis Systems worth $38,230,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Lord Abbett & CO. LLC acquired a new stake in Varonis Systems during the 3rd quarter valued at $36,317,000. Scopia Capital Management LP acquired a new stake in Varonis Systems during the 1st quarter valued at $30,638,000. Norges Bank acquired a new stake in Varonis Systems during the 4th quarter valued at $25,432,000. Cadian Capital Management LP raised its stake in Varonis Systems by 34.6% during the 3rd quarter. Cadian Capital Management LP now owns 3,574,334 shares of the technology company's stock valued at $109,160,000 after purchasing an additional 919,334 shares during the period. Finally, Millennium Management LLC acquired a new stake in Varonis Systems during the 4th quarter valued at $16,429,000. Institutional investors own 95.65% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on VRNS shares. DA Davidson reissued a "neutral" rating and set a $45.00 target price (up from $37.00) on shares of Varonis Systems in a research note on Thursday, January 18th. Royal Bank of Canada restated an "outperform" rating and set a $56.00 price target on shares of Varonis Systems in a report on Friday, March 15th. Piper Sandler boosted their price target on shares of Varonis Systems from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Tuesday, February 6th. Truist Financial restated a "buy" rating and set a $55.00 price target (up from $50.00) on shares of Varonis Systems in a report on Wednesday, March 13th. Finally, Wedbush upgraded shares of Varonis Systems from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $35.00 to $65.00 in a report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.81.

Varonis Systems Stock Performance

Varonis Systems stock traded up $1.08 on Friday, reaching $47.81. 1,048,691 shares of the stock were exchanged, compared to its average volume of 947,365. The stock has a market cap of $5.22 billion, a PE ratio of -51.97 and a beta of 0.85. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.51. Varonis Systems, Inc. has a twelve month low of $22.34 and a twelve month high of $52.88. The firm has a fifty day moving average price of $48.56 and a two-hundred day moving average price of $42.21.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.08. The firm had revenue of $154.10 million during the quarter, compared to analyst estimates of $151.64 million. Varonis Systems had a negative net margin of 20.22% and a negative return on equity of 20.04%. Sell-side analysts anticipate that Varonis Systems, Inc. will post -0.96 EPS for the current year.

Insider Activity at Varonis Systems

In related news, Director Gili Iohan sold 19,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the completion of the sale, the director now owns 19,263 shares in the company, valued at $973,552.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $50.54, for a total transaction of $985,530.00. Following the completion of the transaction, the director now owns 19,263 shares in the company, valued at $973,552.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ofer Segev sold 5,000 shares of the firm's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $52.13, for a total transaction of $260,650.00. Following the transaction, the director now owns 75,682 shares of the company's stock, valued at approximately $3,945,302.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 372,419 shares of company stock worth $18,571,413. Company insiders own 2.40% of the company's stock.

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.