Bank of America Corp DE Sells 50,571 Shares of Varonis Systems Inc (VRNS)

Bank of America Corp DE decreased its position in Varonis Systems Inc (NASDAQ:VRNS) by 28.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,332 shares of the technology company’s stock after selling 50,571 shares during the quarter. Bank of America Corp DE owned 0.44% of Varonis Systems worth $9,560,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. grew its position in Varonis Systems by 11.8% in the second quarter. BlackRock Inc. now owns 1,970,923 shares of the technology company’s stock valued at $146,835,000 after acquiring an additional 207,953 shares in the last quarter. Millennium Management LLC grew its position in Varonis Systems by 22.6% in the first quarter. Millennium Management LLC now owns 1,014,780 shares of the technology company’s stock valued at $61,394,000 after acquiring an additional 187,356 shares in the last quarter. FMR LLC grew its position in Varonis Systems by 23.3% in the second quarter. FMR LLC now owns 889,319 shares of the technology company’s stock valued at $66,255,000 after acquiring an additional 167,869 shares in the last quarter. Emerald Advisers Inc. PA grew its position in Varonis Systems by 1.4% in the second quarter. Emerald Advisers Inc. PA now owns 708,319 shares of the technology company’s stock valued at $52,770,000 after acquiring an additional 9,610 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its position in Varonis Systems by 3.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 605,440 shares of the technology company’s stock valued at $45,105,000 after acquiring an additional 18,748 shares in the last quarter. 82.84% of the stock is owned by institutional investors.

In related news, CFO Guy Melamed sold 1,616 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $72.86, for a total transaction of $117,741.76. Following the transaction, the chief financial officer now directly owns 130,212 shares in the company, valued at $9,487,246.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas F. Mendoza acquired 1,688 shares of Varonis Systems stock in a transaction that occurred on Thursday, August 2nd. The shares were purchased at an average price of $59.58 per share, for a total transaction of $100,571.04. Following the completion of the purchase, the director now directly owns 22,511 shares of the company’s stock, valued at $1,341,205.38. The disclosure for this purchase can be found here. 4.20% of the stock is currently owned by company insiders.

Several analysts have issued reports on VRNS shares. DA Davidson set a $70.00 price objective on shares of Varonis Systems and gave the company a “buy” rating in a research report on Tuesday, July 31st. Needham & Company LLC lowered their price objective on shares of Varonis Systems from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, July 31st. Jefferies Financial Group lowered their price objective on shares of Varonis Systems from $92.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Varonis Systems in a research report on Tuesday, July 31st. Finally, BidaskClub downgraded shares of Varonis Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Varonis Systems presently has a consensus rating of “Buy” and an average target price of $74.53.

VRNS stock opened at $65.62 on Thursday. Varonis Systems Inc has a twelve month low of $41.75 and a twelve month high of $83.10. The company has a market cap of $2.14 billion, a PE ratio of -131.24 and a beta of 0.74.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, July 30th. The technology company reported ($0.08) earnings per share 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 for the quarter, compared to analyst estimates of $62.20 million. During the same period in the previous year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. Research analysts expect that Varonis Systems Inc will post -0.93 EPS for the current fiscal year.

Varonis Systems Company Profile

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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