State Treasurer State of Michigan Takes Position in Varonis Systems, Inc. (NASDAQ:VRNS)

State Treasurer State of Michigan bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,092 shares of the technology company’s stock, valued at approximately $487,000.

Several other institutional investors have also made changes to their positions in VRNS. State Street Corp boosted its position in shares of Varonis Systems by 10.6% in the fourth quarter. State Street Corp now owns 199,571 shares of the technology company’s stock worth $5,348,000 after buying an additional 19,178 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Varonis Systems by 10.9% in the fourth quarter. Teachers Advisors LLC now owns 18,698 shares of the technology company’s stock worth $501,000 after buying an additional 1,838 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Varonis Systems by 15.3% in the first quarter. Russell Investments Group Ltd. now owns 139,028 shares of the technology company’s stock worth $4,421,000 after buying an additional 18,487 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Varonis Systems by 37.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 553,215 shares of the technology company’s stock worth $17,592,000 after buying an additional 150,660 shares during the last quarter. Finally, Emerald Advisers Inc. PA boosted its position in shares of Varonis Systems by 35.1% in the first quarter. Emerald Advisers Inc. PA now owns 724,245 shares of the technology company’s stock worth $23,031,000 after buying an additional 188,249 shares during the last quarter. 63.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) traded down 2.59% during trading on Thursday, reaching $35.80. 109,524 shares of the company’s stock traded hands. The company’s market capitalization is $984.64 million. Varonis Systems, Inc. has a 1-year low of $24.45 and a 1-year high of $40.00. The company has a 50 day moving average of $37.75 and a 200-day moving average of $33.15.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $50.20 million for the quarter, compared to analysts’ expectations of $47.50 million. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period last year, the business posted ($0.12) earnings per share. Equities analysts predict that Varonis Systems, Inc. will post $0.05 earnings per share for the current year.

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A number of equities analysts have recently commented on VRNS shares. Zacks Investment Research raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, April 18th. Benchmark Co. started coverage on shares of Varonis Systems in a report on Thursday, April 27th. They issued a “buy” rating and a $40.00 target price on the stock. Needham & Company LLC started coverage on shares of Varonis Systems in a report on Monday, May 1st. They issued a “buy” rating and a $38.00 target price on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $40.00 target price (up from $39.00) on shares of Varonis Systems in a report on Friday, May 5th. Finally, Stifel Nicolaus lifted their target price on shares of Varonis Systems from $36.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $41.55.

In other news, Director Rona Segev-Gal sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $36.65, for a total transaction of $183,250.00. Following the transaction, the director now directly owns 24,907 shares of the company’s stock, valued at $912,841.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed sold 6,562 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $39.50, for a total value of $259,199.00. Following the transaction, the chief financial officer now directly owns 104,653 shares in the company, valued at $4,133,793.50. The disclosure for this sale can be found here. Insiders have sold 344,998 shares of company stock worth $13,084,586 over the last three months. Corporate insiders own 19.50% of the company’s stock.

About Varonis Systems

Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.

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

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