Clearbridge Investments LLC Sells 272,917 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Clearbridge Investments LLC lowered its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 7.5% in the second quarter, Holdings Channel.com reports. The fund owned 3,351,149 shares of the technology company’s stock after selling 272,917 shares during the quarter. Clearbridge Investments LLC’s holdings in Varonis Systems were worth $160,755,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Algert Global LLC bought a new stake in shares of Varonis Systems during the second quarter worth $527,000. The Manufacturers Life Insurance Company increased its stake in Varonis Systems by 40.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock worth $38,361,000 after buying an additional 228,589 shares during the period. EVR Research LP increased its stake in Varonis Systems by 41.3% in the 2nd quarter. EVR Research LP now owns 325,000 shares of the technology company’s stock worth $15,590,000 after buying an additional 95,000 shares during the period. Squarepoint Ops LLC lifted its holdings in Varonis Systems by 167.9% during the 2nd quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock valued at $21,755,000 after buying an additional 284,236 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Varonis Systems in the 2nd quarter valued at about $260,000. Institutional investors own 95.65% of the company’s stock.

Insider Buying and Selling at Varonis Systems

In other news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following 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 Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Varonis Systems Trading Down 2.6 %

NASDAQ VRNS opened at $55.02 on Wednesday. Varonis Systems, Inc. has a 52 week low of $29.47 and a 52 week high of $58.32. The company has a 50 day moving average price of $54.00 and a 200 day moving average price of $48.43. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55. The firm has a market cap of $6.13 billion, a PE ratio of -58.53 and a beta of 0.81.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VRNS shares. Truist Financial reaffirmed a “buy” rating and set a $60.00 target price (up from $55.00) on shares of Varonis Systems in a research 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. Wells Fargo & Company upped their target price on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Barclays increased their price target on Varonis Systems from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, TD Cowen lifted their price objective on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

About Varonis Systems

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.