BNP Paribas Arbitrage SA Purchases 121,645 Shares of Varonis Systems, Inc. (VRNS)
BNP Paribas Arbitrage SA boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 168,951.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,717 shares of the technology company’s stock after buying an additional 121,645 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.45% of Varonis Systems worth $4,528,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in VRNS. State of Wisconsin Investment Board bought a new stake in Varonis Systems during the first quarter valued at approximately $3,657,000. Eagle Asset Management Inc. increased its stake in Varonis Systems by 8.5% in the first quarter. Eagle Asset Management Inc. now owns 251,301 shares of the technology company’s stock valued at $7,991,000 after buying an additional 19,710 shares during the last quarter. Teza Capital Management LLC bought a new stake in Varonis Systems during the first quarter valued at approximately $223,000. UBS Asset Management Americas Inc. bought a new stake in Varonis Systems during the first quarter valued at approximately $2,934,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Varonis Systems during the first quarter valued at approximately $286,000. 64.93% of the stock is owned by hedge funds and other institutional investors.
Shares of Varonis Systems, Inc. (NASDAQ VRNS) opened at 38.10 on Friday. Varonis Systems, Inc. has a 1-year low of $24.45 and a 1-year high of $40.00. The company’s market cap is $1.05 billion. The company has a 50-day moving average price of $37.93 and a 200-day moving average price of $33.80.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.09. The firm had revenue of $50.20 million for the quarter, compared to the consensus estimate of $47.50 million. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period last year, the business posted ($0.12) EPS. Equities research analysts expect that Varonis Systems, Inc. will post $0.09 earnings per share for the current fiscal year.
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Several equities research analysts have recently commented on VRNS shares. Needham & Company LLC started coverage on Varonis Systems in a report on Monday, May 1st. They issued a “buy” rating and a $38.00 price objective for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 price objective (up previously from $39.00) on shares of Varonis Systems in a report on Friday, May 5th. Stifel Nicolaus increased their price objective on Varonis Systems from $36.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 5th. Barclays PLC reissued a “hold” rating and issued a $37.00 price objective on shares of Varonis Systems in a report on Sunday, May 7th. Finally, Imperial Capital increased their price objective on Varonis Systems from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, May 8th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $42.60.
In other news, CEO Yakov Faitelson sold 56,085 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $37.04, for a total value of $2,077,388.40. Following the transaction, the chief executive officer now directly owns 397,083 shares in the company, valued at approximately $14,707,954.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 6,562 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $39.50, for a total value of $259,199.00. Following the completion of the transaction, the chief financial officer now owns 104,653 shares in the company, valued at $4,133,793.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 326,081 shares of company stock worth $12,392,721. Company insiders own 19.50% of the company’s stock.
Varonis Systems Company Profile
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Data Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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