Advantage Alpha Capital Partners LP Reduces Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Advantage Alpha Capital Partners LP reduced its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 60.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,841 shares of the technology company’s stock after selling 105,790 shares during the period. Advantage Alpha Capital Partners LP owned approximately 0.06% of Varonis Systems worth $3,946,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the last quarter. International Assets Investment Management LLC grew its position in Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,442 shares during the period. KBC Group NV increased its stake in Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after acquiring an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Varonis Systems in the third quarter valued at $184,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Varonis Systems in the 2nd quarter valued at $215,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS opened at $50.11 on Tuesday. The company has a market cap of $5.64 billion, a P/E ratio of -66.81 and a beta of 0.82. Varonis Systems, Inc. has a one year low of $39.67 and a one year high of $60.58. The business’s 50-day simple moving average is $54.91 and its 200 day simple moving average is $50.92. 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 (NASDAQ:VRNS) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. During the same period last year, the firm earned ($0.22) earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. On average, sell-side analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on VRNS shares. Baird R W raised shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Piper Sandler lifted their target price on shares of Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. UBS Group upped their price target on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

Insider Activity at Varonis Systems

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

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.