Migdal Insurance & Financial Holdings Ltd. Sells 1,392 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,602 shares of the technology company’s stock after selling 1,392 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Varonis Systems were worth $1,582,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Quantbot Technologies LP boosted its stake in Varonis Systems by 61.4% in the 3rd quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock worth $6,422,000 after purchasing an additional 43,258 shares in the last quarter. Lisanti Capital Growth LLC lifted its stake in shares of Varonis Systems by 17.0% in the third quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock worth $4,198,000 after buying an additional 10,820 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Varonis Systems by 226.9% during the third quarter. Vontobel Holding Ltd. now owns 20,595 shares of the technology company’s stock valued at $1,164,000 after buying an additional 14,295 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Varonis Systems by 14.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company’s stock valued at $19,802,000 after acquiring an additional 44,826 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Varonis Systems in the 3rd quarter worth approximately $1,872,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Varonis Systems Trading Down 7.7 %

NASDAQ:VRNS opened at $40.01 on Friday. The stock has a 50-day simple moving average of $46.06 and a two-hundred day simple moving average of $51.31. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. Varonis Systems, Inc. has a 52-week low of $40.00 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. On average, sell-side analysts forecast that Varonis Systems, Inc. will post -0.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. Jefferies Financial Group cut their target price on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. DA Davidson reduced their price objective on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Piper Sandler decreased their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price objective on shares of Varonis Systems in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.38.

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.