Citadel Advisors LLC boosted its stake in shares of Varonis Systems Inc. (NASDAQ:VRNS) by 29.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,710 shares of the company’s stock after buying an additional 16,014 shares during the period. Citadel Advisors LLC’s holdings in Varonis Systems were worth $2,128,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Eagle Asset Management Inc. purchased a new position in shares of Varonis Systems during the third quarter valued at approximately $6,935,000. Emerald Advisers Inc. PA bought a new stake in shares of Varonis Systems during the third quarter valued at $8,431,000. Timpani Capital Management LLC boosted its stake in shares of Varonis Systems by 482.2% in the third quarter. Timpani Capital Management LLC now owns 119,452 shares of the company’s stock valued at $3,596,000 after buying an additional 98,936 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Varonis Systems during the third quarter valued at $8,831,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Varonis Systems during the third quarter valued at $196,000. Hedge funds and other institutional investors own 44.05% of the company’s stock.
Varonis Systems Inc. (NASDAQ:VRNS) remained flat at $29.25 during mid-day trading on Thursday. The company’s stock had a trading volume of 164,581 shares. Varonis Systems Inc. has a 12-month low of $13.25 and a 12-month high of $32.05. The firm’s 50-day moving average is $27.01 and its 200-day moving average is $27.99. The firm’s market capitalization is $780.27 million.
Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Thursday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. Varonis Systems had a negative return on equity of 23.71% and a negative net margin of 12.09%. The business earned $40.90 million during the quarter, compared to analyst estimates of $38.60 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year. Equities research analysts forecast that Varonis Systems Inc. will post ($0.21) EPS for the current fiscal year.
Several equities research analysts recently weighed in on VRNS shares. Jefferies Group restated a “buy” rating and set a $36.00 target price on shares of Varonis Systems in a report on Wednesday. Zacks Investment Research upgraded Varonis Systems from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Thursday, October 6th. Brean Capital reiterated a “buy” rating and issued a $40.00 price objective on shares of Varonis Systems in a report on Wednesday, December 21st. JMP Securities reiterated a “buy” rating on shares of Varonis Systems in a report on Friday, November 4th. Finally, Imperial Capital reissued an “outperform” rating and issued a $35.00 target price on shares of Varonis Systems in a research report on Saturday, January 7th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Varonis Systems currently has an average rating of “Buy” and a consensus price target of $32.36.
In related news, CEO Yakov Faitelson sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $31.54, for a total value of $151,392.00. Following the completion of the sale, the chief executive officer now owns 927,951 shares in the company, valued at $29,267,574.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gili Iohan sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $30.72, for a total value of $153,600.00. The disclosure for this sale can be found here. Insiders sold 446,392 shares of company stock valued at $13,682,400 in the last quarter. 31.40% of the stock is owned by company insiders.
Varonis Systems Company Profile
Varonis Systems, Inc (Varonis) provides a software platform that allows enterprises to analyze, secure, manage and utilize their unstructured data. The Company specializes in human-generated data, a type of unstructured data that includes an enterprise’s spreadsheets, word processing documents, presentations, audio files, video files, e-mails, text messages and any other data created by employees.
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