Ieq Capital LLC Sells 25,284 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Ieq Capital LLC trimmed its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,212 shares of the technology company’s stock after selling 25,284 shares during the quarter. Ieq Capital LLC owned 0.15% of Varonis Systems worth $7,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VRNS. Principal Financial Group Inc. lifted its stake in Varonis Systems by 5,876.4% in the fourth quarter. Principal Financial Group Inc. now owns 679,520 shares of the technology company’s stock valued at $30,769,000 after buying an additional 668,150 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Varonis Systems by 18.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,108,532 shares of the technology company’s stock valued at $50,195,000 after purchasing an additional 173,325 shares during the period. AGF Management Ltd. bought a new stake in shares of Varonis Systems in the fourth quarter valued at about $3,171,000. Teacher Retirement System of Texas boosted its position in shares of Varonis Systems by 172.7% during the fourth quarter. Teacher Retirement System of Texas now owns 23,188 shares of the technology company’s stock worth $1,050,000 after buying an additional 14,686 shares during the period. Finally, Sawgrass Asset Management LLC acquired a new position in shares of Varonis Systems during the fourth quarter worth about $216,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wedbush upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $35.00 to $65.00 in a research note on Tuesday, February 6th. Wells Fargo & Company increased their target price on shares of Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Robert W. Baird lifted their price target on shares of Varonis Systems from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Truist Financial reissued a “buy” rating and set a $55.00 price target (up from $50.00) on shares of Varonis Systems in a research report on Wednesday, March 13th. Finally, DA Davidson restated a “neutral” rating and issued a $45.00 price objective (up previously from $37.00) on shares of Varonis Systems in a report on Thursday, January 18th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.06.

Insider Buying and Selling

In other Varonis Systems news, CEO Yakov Faitelson sold 284,211 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the transaction, the chief executive officer now owns 1,452,922 shares in the company, valued at approximately $65,715,662.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Gili Iohan sold 19,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the sale, the director now owns 19,263 shares of the company’s stock, valued at $973,552.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Yakov Faitelson sold 284,211 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $45.23, for a total value of $12,854,863.53. Following the transaction, the chief executive officer now owns 1,452,922 shares in the company, valued at approximately $65,715,662.06. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Varonis Systems Price Performance

VRNS traded down $0.68 on Friday, reaching $44.51. The company had a trading volume of 903,220 shares, compared to its average volume of 1,032,885. The company has a quick ratio of 2.50, a current ratio of 2.38 and a debt-to-equity ratio of 0.55. Varonis Systems, Inc. has a fifty-two week low of $23.09 and a fifty-two week high of $52.88. The company’s fifty day moving average is $46.51 and its 200 day moving average is $44.51.

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.