Thrivent Financial for Lutherans Reduces Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Thrivent Financial for Lutherans trimmed its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,672,709 shares of the technology company’s stock after selling 201,679 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Varonis Systems were worth $151,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC increased its position in Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after purchasing an additional 423 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,442 shares during the last quarter. KBC Group NV grew its holdings in shares of Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after buying an additional 663 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Varonis Systems in the second quarter valued at approximately $215,000. Finally, O Neil Global Advisors Inc. raised its position 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 valued at $229,000 after buying an additional 220 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Trading Down 2.2 %

NASDAQ VRNS opened at $51.08 on Friday. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of -68.11 and a beta of 0.82. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. Varonis Systems, Inc. has a one year low of $36.87 and a one year high of $60.58. The company’s 50 day moving average price is $55.20 and its 200 day moving average price is $50.65.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) EPS. On average, sell-side analysts predict that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on VRNS. Wedbush reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Monday, August 26th. Barclays lifted their price objective on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, Susquehanna upped their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Varonis Systems has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the sale, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Varonis Systems Company Profile

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.