Stanley Laman Group Ltd. Sells 632 Shares of Varonis Systems Inc (NASDAQ:VRNS)

Stanley Laman Group Ltd. cut its holdings in shares of Varonis Systems Inc (NASDAQ:VRNS) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,996 shares of the technology company’s stock after selling 632 shares during the quarter. Stanley Laman Group Ltd. owned 0.06% of Varonis Systems worth $1,177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in VRNS. State Board of Administration of Florida Retirement System increased its stake in Varonis Systems by 5.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 13,855 shares of the technology company’s stock valued at $826,000 after acquiring an additional 660 shares during the last quarter. Meitav Dash Investments Ltd. increased its stake in Varonis Systems by 46.5% in the first quarter. Meitav Dash Investments Ltd. now owns 8,032 shares of the technology company’s stock valued at $474,000 after acquiring an additional 2,550 shares during the last quarter. Coronation Fund Managers Ltd. bought a new position in Varonis Systems in the first quarter valued at approximately $2,090,000. Virtu Financial LLC bought a new position in Varonis Systems in the first quarter valued at approximately $306,000. Finally, Norges Bank bought a new position in Varonis Systems in the fourth quarter valued at approximately $9,598,000. 88.74% of the stock is currently owned by institutional investors.

A number of research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Varonis Systems from $71.00 to $81.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Craig Hallum raised their target price on shares of Varonis Systems from $62.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Zacks Investment Research upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Friday, June 28th. Wedbush raised their target price on shares of Varonis Systems from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, ValuEngine upgraded shares of Varonis Systems from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $74.00.

Varonis Systems stock traded down $1.62 during mid-day trading on Wednesday, reaching $69.83. The company had a trading volume of 7,764 shares, compared to its average volume of 402,745. Varonis Systems Inc has a fifty-two week low of $48.67 and a fifty-two week high of $80.00. The firm has a market cap of $2.11 billion, a P/E ratio of -70.95 and a beta of 0.92. The company has a fifty day moving average of $66.92.

In other news, SVP James O’boyle sold 15,000 shares of Varonis Systems stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the transaction, the senior vice president now owns 101,379 shares in the company, valued at $7,836,596.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Bass sold 42,416 shares of Varonis Systems stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $72.54, for a total transaction of $3,076,856.64. Following the transaction, the executive vice president now owns 202,833 shares in the company, valued at approximately $14,713,505.82. The disclosure for this sale can be found here. Insiders sold 64,277 shares of company stock worth $4,785,237 in the last 90 days. Company insiders own 2.80% of the company’s stock.

About Varonis Systems

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.

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

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