Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,843 shares of the technology company’s stock after selling 3,713 shares during the period. Mutual of America Capital Management LLC’s holdings in Varonis Systems were worth $4,118,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Edgestream Partners L.P. raised its position in shares of Varonis Systems by 144.9% in the 2nd quarter. Edgestream Partners L.P. now owns 103,825 shares of the technology company’s stock valued at $4,980,000 after purchasing an additional 61,425 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Varonis Systems by 21.7% in the 2nd quarter. Renaissance Technologies LLC now owns 197,100 shares of the technology company’s stock valued at $9,455,000 after purchasing an additional 35,200 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Varonis Systems by 242.5% in the 2nd quarter. Quantbot Technologies LP now owns 70,413 shares of the technology company’s stock valued at $3,378,000 after purchasing an additional 49,857 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Varonis Systems by 1.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock valued at $106,396,000 after purchasing an additional 23,231 shares in the last quarter. Finally, O Neil Global Advisors Inc. increased its holdings in shares of Varonis Systems by 4.8% in the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after acquiring an additional 220 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Trading Up 1.4 %

NASDAQ:VRNS opened at $55.88 on Monday. Varonis Systems, Inc. has a 1 year low of $29.47 and a 1 year high of $58.32. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of -59.45 and a beta of 0.81. The business has a fifty day moving average of $53.06 and a 200-day moving average of $48.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. The company had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) earnings per share. Equities analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VRNS shares. Royal Bank of Canada boosted their price target on Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Baird R W upgraded Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and issued a $60.00 price target (up from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Piper Sandler boosted their price target on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Robert W. Baird upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $52.00 to $60.00 in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

Insider Activity

In other news, Vice Chairman James O’boyle sold 75,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total value of $3,828,000.00. Following the completion of the sale, the insider now owns 494,114 shares in the company, valued at $25,219,578.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.60% of the company’s stock.

Varonis Systems Company 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.