Penserra Capital Management LLC Lowers Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Penserra Capital Management LLC reduced its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 19.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 906,294 shares of the technology company’s stock after selling 213,911 shares during the quarter. Varonis Systems comprises about 1.1% of Penserra Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Penserra Capital Management LLC owned 0.81% of Varonis Systems worth $51,205,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Varonis Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after acquiring an additional 155,040 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Varonis Systems by 4.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after purchasing an additional 127,129 shares in the last quarter. William Blair Investment Management LLC increased its position in Varonis Systems by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after purchasing an additional 23,231 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after buying an additional 147,081 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Varonis Systems by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock valued at $54,405,000 after buying an additional 59,218 shares in the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRNS has been the subject of several recent research 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. UBS Group raised their price objective on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial reaffirmed a “buy” rating and issued a $60.00 target price (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $67.00 price target on shares of Varonis Systems in a research report on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.67.

Insider Activity

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

Varonis Systems Price Performance

Shares of VRNS stock opened at $50.02 on Friday. The firm has a fifty day moving average of $54.98 and a two-hundred day moving average of $50.81. The firm has a market cap of $5.63 billion, a P/E ratio of -66.69 and a beta of 0.82. Varonis Systems, Inc. has a 1-year low of $39.56 and a 1-year high of $60.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates 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 business 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 for the quarter was up 21.1% compared to the same quarter last year. As a group, research analysts anticipate that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

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.