Clal Insurance Enterprises Holdings Ltd Sells 50,000 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Clal Insurance Enterprises Holdings Ltd cut its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 440,000 shares of the technology company’s stock after selling 50,000 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Varonis Systems were worth $24,860,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VRNS. Vanguard Group Inc. lifted its holdings in shares of Varonis Systems by 1.4% in the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after buying an additional 155,040 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Varonis Systems by 12.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,713 shares of the technology company’s stock valued at $364,000 after acquiring an additional 865 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Varonis Systems in the first quarter valued at $461,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Varonis Systems by 7.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,869 shares of the technology company’s stock worth $2,919,000 after acquiring an additional 4,141 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in shares of Varonis Systems by 4.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 110,554 shares of the technology company’s stock worth $5,215,000 after purchasing an additional 5,010 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Price Performance

Shares of VRNS opened at $50.02 on Friday. The stock has a market capitalization of $5.63 billion, a PE ratio of -66.69 and a beta of 0.82. The company has a 50 day moving average price of $55.06 and a 200-day moving average price of $50.77. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. Varonis Systems, Inc. has a fifty-two week low of $39.56 and a fifty-two week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) EPS. Equities analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Activity at Varonis Systems

In other news, CFO Guy Melamed sold 91,345 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the sale, the insider now directly owns 444,114 shares of the company’s stock, valued at $26,540,252.64. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

VRNS has been the topic of a number of recent analyst reports. Barclays increased their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Monday, August 26th. Finally, Robert W. Baird upped their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and an average price target of $59.67.

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.