Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 33.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 739,220 shares of the technology company’s stock after selling 365,480 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Varonis Systems were worth $35,455,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC acquired a new position in shares of Varonis Systems during the 1st quarter valued at about $63,000. NBC Securities Inc. purchased a new stake in shares of Varonis Systems in the 1st quarter valued at approximately $68,000. O Neil Global Advisors Inc. increased its holdings in shares of Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after buying an additional 220 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Varonis Systems during the 4th quarter valued at approximately $232,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Varonis Systems by 12.6% in 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. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VRNS has been the subject of several recent analyst reports. Barclays raised their target price on Varonis Systems from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Royal Bank of Canada increased their target price on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Piper Sandler boosted their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Wedbush restated an “outperform” rating and issued a $67.00 price objective on shares of Varonis Systems in a report on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

Insider Activity

In related news, Vice Chairman James O’boyle sold 75,000 shares of the 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 transaction, the insider now owns 494,114 shares of the company’s stock, valued at $25,219,578.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

Varonis Systems Price Performance

VRNS stock opened at $55.02 on Wednesday. The business’s 50-day moving average is $54.00 and its two-hundred day moving average is $48.43. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44. The firm has a market capitalization of $6.13 billion, a P/E ratio of -60.11 and a beta of 0.81. Varonis Systems, Inc. has a 1 year low of $29.47 and a 1 year high of $58.32.

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

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.