Federated Hermes Inc. Sells 223,018 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Federated Hermes Inc. decreased its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 73.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 81,223 shares of the technology company’s stock after selling 223,018 shares during the period. Federated Hermes Inc. owned 0.07% of Varonis Systems worth $3,285,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP bought a new stake in Varonis Systems in the 4th quarter valued at about $36,000. Johnson Financial Group Inc. bought a new stake in Varonis Systems in the 4th quarter valued at about $61,000. Transce3nd LLC bought a new stake in Varonis Systems in the 4th quarter valued at about $62,000. NBC Securities Inc. boosted its holdings in Varonis Systems by 100,200.0% in the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company’s stock valued at $81,000 after purchasing an additional 2,004 shares during the period. Finally, Raiffeisen Bank International AG bought a new stake in Varonis Systems in the 4th quarter valued at about $163,000. Institutional investors own 95.65% of the company’s stock.

Insiders Place Their Bets

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.08, for a total value of $165,240.00. Following the transaction, the director directly owned 128,666 shares of the company’s stock, valued at approximately $7,086,923.28. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 51,889 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the completion of the sale, the chief financial officer owned 470,602 shares of the company’s stock, valued at approximately $25,930,170.20. This represents a 9.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,889 shares of company stock worth $3,324,324. Insiders own 2.30% of the company’s stock.

Varonis Systems Trading Up 3.2%

NASDAQ:VRNS opened at $56.48 on Tuesday. The firm’s fifty day moving average is $50.76 and its 200-day moving average is $45.51. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58. The firm has a market cap of $6.33 billion, a P/E ratio of -61.39 and a beta of 0.71.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The company had revenue of $152.16 million for the quarter, compared to analyst estimates of $147.80 million. During the same period in the prior year, the firm posted $0.05 EPS. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VRNS has been the subject of a number of recent research reports. Needham & Company LLC boosted their price objective on shares of Varonis Systems from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. UBS Group boosted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Wall Street Zen raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Morgan Stanley cut their price target on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price target on shares of Varonis Systems in a report on Tuesday, July 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.31.

Varonis Systems 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.