Millennium Management LLC Sells 656,962 Shares of Varonis Systems Inc (VRNS)

Millennium Management LLC lowered its stake in Varonis Systems Inc (NASDAQ:VRNS) by 64.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 357,818 shares of the technology company’s stock after selling 656,962 shares during the quarter. Millennium Management LLC’s holdings in Varonis Systems were worth $26,657,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Varonis Systems during the first quarter valued at approximately $159,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Varonis Systems by 3.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 28,491 shares of the technology company’s stock valued at $1,724,000 after acquiring an additional 835 shares in the last quarter. Swiss National Bank raised its holdings in shares of Varonis Systems by 7.7% during the first quarter. Swiss National Bank now owns 26,518 shares of the technology company’s stock valued at $1,604,000 after acquiring an additional 1,900 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Varonis Systems by 7.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 104,402 shares of the technology company’s stock valued at $6,317,000 after acquiring an additional 7,381 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Varonis Systems by 2.2% during the first quarter. Northern Trust Corp now owns 246,843 shares of the technology company’s stock valued at $14,934,000 after acquiring an additional 5,330 shares in the last quarter. Hedge funds and other institutional investors own 82.84% of the company’s stock.

In other news, CFO Guy Melamed sold 844 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $72.35, for a total value of $61,063.40. Following the sale, the chief financial officer now directly owns 130,212 shares of the company’s stock, valued at $9,420,838.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas F. Mendoza bought 1,688 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was bought at an average cost of $59.58 per share, for a total transaction of $100,571.04. Following the completion of the purchase, the director now owns 22,511 shares of the company’s stock, valued at approximately $1,341,205.38. The disclosure for this purchase can be found here. Corporate insiders own 4.20% of the company’s stock.

Several brokerages recently weighed in on VRNS. Barclays upped their price target on Varonis Systems from $67.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 12th. Needham & Company LLC upped their price target on Varonis Systems to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $92.00 price target on shares of Varonis Systems in a research note on Friday, July 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 price target (down from $85.00) on shares of Varonis Systems in a research note on Tuesday, July 31st. Finally, TheStreet cut Varonis Systems from a “c” rating to a “d+” rating in a research note on Tuesday, July 31st. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $74.53.

NASDAQ VRNS opened at $74.00 on Wednesday. Varonis Systems Inc has a 12 month low of $41.00 and a 12 month high of $83.10. The firm has a market capitalization of $2.08 billion, a PE ratio of -148.00 and a beta of 0.73.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, July 30th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Varonis Systems had a negative return on equity of 23.77% and a negative net margin of 10.52%. The company had revenue of $62.19 million during the quarter, compared to analysts’ expectations of $62.20 million. During the same period in the prior year, the company posted ($0.01) earnings per share. The company’s revenue was up 25.8% on a year-over-year basis. equities research analysts anticipate that Varonis Systems Inc will post -0.93 EPS for the current year.

About Varonis Systems

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.

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

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