Los Angeles Capital Management LLC Takes $1.05 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Los Angeles Capital Management LLC bought a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 18,487 shares of the technology company’s stock, valued at approximately $1,045,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRNS. Seven Eight Capital LP purchased a new stake in Varonis Systems during the 1st quarter valued at approximately $706,000. Diversified Trust Co purchased a new position in Varonis Systems during the second quarter valued at $575,000. Swedbank AB bought a new stake in Varonis Systems in the 1st quarter valued at $3,344,000. Harbor Capital Advisors Inc. lifted its stake in Varonis Systems by 562.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock worth $928,000 after purchasing an additional 16,416 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Varonis Systems by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after purchasing an additional 155,040 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Wall Street Analysts Forecast Growth

VRNS has been the topic of several research reports. Wells Fargo & Company lifted their target price on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Monday, August 26th. Piper Sandler boosted their price target on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

Varonis Systems Trading Down 1.8 %

Shares of NASDAQ VRNS opened at $52.23 on Friday. Varonis Systems, Inc. has a fifty-two week low of $36.87 and a fifty-two week high of $60.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market cap of $5.87 billion, a price-to-earnings ratio of -70.36 and a beta of 0.82. The business’s 50 day moving average price is $55.20 and its 200-day moving average price is $50.55.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. The business had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period last year, the company earned ($0.22) earnings per share. On average, sell-side analysts expect that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the sale, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Varonis Systems Company 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.