Emerald Mutual Fund Advisers Trust Sells 76,221 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Emerald Mutual Fund Advisers Trust decreased its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 673,641 shares of the technology company’s stock after selling 76,221 shares during the quarter. Varonis Systems accounts for about 2.0% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 4th largest position. Emerald Mutual Fund Advisers Trust owned approximately 0.60% of Varonis Systems worth $38,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in VRNS. Farther Finance Advisors LLC increased its holdings in shares of Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after acquiring an additional 423 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Varonis Systems in the first quarter worth about $63,000. International Assets Investment Management LLC increased its holdings in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,442 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems in the second quarter worth about $215,000. Finally, O Neil Global Advisors Inc. increased its holdings in shares of Varonis Systems by 4.8% in the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on VRNS. UBS Group increased their price target on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Susquehanna increased their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a report on Monday, August 26th. Truist Financial reiterated a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their price objective on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Six 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.75.

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the transaction, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

Varonis Systems Stock Up 1.7 %

VRNS opened at $51.23 on Friday. Varonis Systems, Inc. has a fifty-two week low of $32.26 and a fifty-two week high of $60.58. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. The company has a market capitalization of $5.75 billion, a P/E ratio of -68.31 and a beta of 0.83. The stock has a fifty day moving average of $55.86 and a 200-day moving average of $50.10.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.22% and a negative net margin of 15.31%. The company had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. During the same quarter last year, the firm earned ($0.22) earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. On average, equities analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current 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.