Royal Bank of Canada Sells 11,773 Shares of Varonis Systems Inc (NASDAQ:VRNS)

Royal Bank of Canada reduced its position in shares of Varonis Systems Inc (NASDAQ:VRNS) by 12.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 83,047 shares of the technology company’s stock after selling 11,773 shares during the quarter. Royal Bank of Canada’s holdings in Varonis Systems were worth $5,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRNS. FMR LLC boosted its holdings in shares of Varonis Systems by 81.3% during the 1st quarter. FMR LLC now owns 1,388,442 shares of the technology company’s stock worth $82,793,000 after buying an additional 622,639 shares during the period. Cadian Capital Management LP boosted its holdings in shares of Varonis Systems by 97.1% during the 2nd quarter. Cadian Capital Management LP now owns 989,553 shares of the technology company’s stock worth $61,293,000 after buying an additional 487,453 shares during the period. Holocene Advisors LP boosted its holdings in shares of Varonis Systems by 4,936.0% during the 2nd quarter. Holocene Advisors LP now owns 460,488 shares of the technology company’s stock worth $28,523,000 after buying an additional 451,344 shares during the period. Soma Equity Partners LP boosted its holdings in shares of Varonis Systems by 75.0% during the 2nd quarter. Soma Equity Partners LP now owns 1,050,000 shares of the technology company’s stock worth $65,037,000 after buying an additional 450,000 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of Varonis Systems by 54.3% during the 1st quarter. Clearbridge Investments LLC now owns 883,113 shares of the technology company’s stock worth $52,660,000 after buying an additional 310,737 shares during the period. 93.61% of the stock is owned by institutional investors and hedge funds.

In other news, Director Ohad Korkus sold 6,861 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $80.00, for a total value of $548,880.00. Following the sale, the director now owns 29,013 shares of the company’s stock, valued at approximately $2,321,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP James O’boyle sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the completion of the sale, the senior vice president now directly owns 101,379 shares in the company, valued at approximately $7,836,596.70. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Shares of VRNS stock opened at $63.42 on Friday. Varonis Systems Inc has a 52-week low of $48.67 and a 52-week high of $80.00. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -64.71 and a beta of 0.85. The firm has a fifty day moving average of $64.21 and a 200-day moving average of $65.13.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Monday, July 29th. The technology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.16). Varonis Systems had a negative net margin of 17.73% and a negative return on equity of 40.22%. The business had revenue of $59.62 million during the quarter, compared to analyst estimates of $62.37 million. On average, research analysts forecast that Varonis Systems Inc will post -2.32 EPS for the current year.

Several research firms recently issued reports on VRNS. ValuEngine downgraded shares of Varonis Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday. Craig Hallum upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday. They noted that the move was a valuation call. Wedbush upped their target price on shares of Varonis Systems from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. BidaskClub upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Benchmark upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Varonis Systems currently has a consensus rating of “Buy” and an average target price of $74.92.

Varonis Systems Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and 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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