Varonis Systems Inc (NASDAQ:VRNS) Holdings Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Varonis Systems Inc (NASDAQ:VRNS) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 389,226 shares of the technology company’s stock after selling 86,270 shares during the period. Bank of New York Mellon Corp owned 1.32% of Varonis Systems worth $20,591,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Chartwell Investment Partners LLC boosted its holdings in Varonis Systems by 2.2% in the 4th quarter. Chartwell Investment Partners LLC now owns 70,163 shares of the technology company’s stock valued at $3,712,000 after purchasing an additional 1,481 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Varonis Systems by 26.7% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 13,195 shares of the technology company’s stock valued at $698,000 after purchasing an additional 2,783 shares during the period. ETF Managers Group LLC boosted its holdings in Varonis Systems by 5.6% in the 4th quarter. ETF Managers Group LLC now owns 225,674 shares of the technology company’s stock valued at $11,938,000 after purchasing an additional 11,932 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Varonis Systems by 26.1% in the 4th quarter. Xact Kapitalforvaltning AB now owns 5,800 shares of the technology company’s stock valued at $307,000 after purchasing an additional 1,200 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Varonis Systems by 373.9% in the 4th quarter. SG Americas Securities LLC now owns 7,180 shares of the technology company’s stock valued at $380,000 after purchasing an additional 5,665 shares during the period. Institutional investors own 85.45% of the company’s stock.

In other news, CEO Yakov Faitelson sold 30,000 shares of Varonis Systems stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $54.72, for a total transaction of $1,641,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Shares of VRNS stock traded down $1.42 during mid-day trading on Friday, reaching $59.99. The stock had a trading volume of 354,736 shares, compared to its average volume of 284,131. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -61.21 and a beta of 0.96. Varonis Systems Inc has a 52-week low of $48.67 and a 52-week high of $83.10.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, February 11th. The technology company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.11. The firm had revenue of $87.52 million for the quarter, compared to analyst estimates of $87.33 million. Varonis Systems had a negative net margin of 10.57% and a negative return on equity of 24.02%. On average, research analysts expect that Varonis Systems Inc will post -1.16 EPS for the current fiscal year.

Several research analysts have commented on VRNS shares. BidaskClub downgraded shares of Varonis Systems from a “buy” rating to a “hold” rating in a report on Friday. UBS Group lowered their price objective on shares of Varonis Systems from $80.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 12th. Wedbush lowered their price objective on shares of Varonis Systems from $68.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 12th. JMP Securities cut shares of Varonis Systems from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 12th. Finally, Jefferies Financial Group restated a “buy” rating and set a $73.00 price objective (down previously from $81.00) on shares of Varonis Systems in a research report on Tuesday, February 12th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $67.48.

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Varonis Systems Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

See Also: Fundamental Analysis

Institutional Ownership by Quarter for Varonis Systems (NASDAQ:VRNS)

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