American International Group Inc. boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,588 shares of the technology company’s stock after buying an additional 437 shares during the period. American International Group Inc.’s holdings in Varonis Systems were worth $209,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. bought a new position in Varonis Systems during the first quarter valued at $2,934,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Varonis Systems during the first quarter valued at $286,000. First Trust Advisors LP purchased a new stake in Varonis Systems during the first quarter valued at $6,936,000. Hussman Strategic Advisors Inc. purchased a new stake in Varonis Systems during the first quarter valued at $3,180,000. Finally, Jennison Associates LLC boosted its stake in Varonis Systems by 6.1% in the first quarter. Jennison Associates LLC now owns 1,971,574 shares of the technology company’s stock valued at $62,696,000 after buying an additional 112,573 shares during the period. Hedge funds and other institutional investors own 63.89% of the company’s stock.
Shares of Varonis Systems, Inc. (VRNS) opened at 36.75 on Thursday. The stock’s market cap is $1.00 billion. Varonis Systems, Inc. has a 12-month low of $24.45 and a 12-month high of $39.30. The company’s 50-day moving average is $37.75 and its 200-day moving average is $33.15.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The company had revenue of $50.20 million for the quarter, compared to analysts’ expectations of $47.50 million. During the same quarter in the prior year, the business posted ($0.12) EPS. The business’s revenue was up 30.1% compared to the same quarter last year. On average, analysts expect that Varonis Systems, Inc. will post $0.05 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Thursday. BidaskClub lowered shares of Varonis Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Stifel Nicolaus restated a “buy” rating and issued a $44.00 price objective (up from $40.00) on shares of Varonis Systems in a report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and issued a $45.00 price objective (up from $41.00) on shares of Varonis Systems in a report on Friday, August 4th. Finally, Barclays PLC lifted their price target on shares of Varonis Systems from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Varonis Systems has an average rating of “Buy” and an average price target of $41.55.
In other news, SVP James O’boyle sold 20,000 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $38.50, for a total transaction of $770,000.00. Following the sale, the senior vice president now directly owns 144,189 shares of the company’s stock, valued at approximately $5,551,276.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Yakov Faitelson sold 915 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $37.00, for a total value of $33,855.00. Following the completion of the sale, the chief executive officer now directly owns 434,489 shares in the company, valued at $16,076,093. The disclosure for this sale can be found here. In the last 90 days, insiders sold 344,998 shares of company stock worth $13,084,586. 19.50% of the stock is owned by company insiders.
About Varonis Systems
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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