22,659 Shares of Varonis Systems, Inc. $VRNS Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC purchased a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,659 shares of the technology company’s stock, valued at approximately $1,090,000.

Several other hedge funds have also recently modified their holdings of the stock. American Capital Management Inc. purchased a new position in shares of Varonis Systems in the 2nd quarter valued at approximately $94,062,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Varonis Systems in the 2nd quarter worth approximately $61,262,000. Senvest Management LLC boosted its stake in Varonis Systems by 406.1% in the 1st quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company’s stock worth $31,109,000 after purchasing an additional 1,162,651 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Varonis Systems during the 2nd quarter worth approximately $30,733,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Varonis Systems by 218.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,409,487 shares of the technology company’s stock worth $30,262,000 after purchasing an additional 966,817 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on VRNS. Citigroup raised their price target on shares of Varonis Systems from $45.00 to $49.75 and gave the stock a “neutral” rating in a report on Friday, October 16th. Robert W. Baird boosted their price objective on shares of Varonis Systems from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 16th. Wells Fargo & Company downgraded Varonis Systems from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $53.00 to $49.75 in a research report on Friday, October 16th. UBS Group raised their target price on Varonis Systems from $37.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada cut Varonis Systems from an “outperform” rating to a “neutral” rating in a research report on Friday, October 16th. Four analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.39.

Varonis Systems Stock Up 0.3%

VRNS stock opened at $49.10 on Wednesday. The firm has a market cap of $5.66 billion, a PE ratio of -36.92 and a beta of 0.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s fifty day moving average is $47.82 and its 200 day moving average is $36.09. Varonis Systems, Inc. has a one year low of $19.70 and a one year high of $50.31.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Varonis Systems had a negative net margin of 21.38% and a negative return on equity of 22.20%. The business had revenue of $189.46 million during the quarter, compared to the consensus estimate of $186.74 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. On average, research analysts forecast that Varonis Systems, Inc. will post -0.92 EPS for the current year.

Varonis Systems Company Profile

Varonis Systems, Inc. develops cybersecurity software focused on protecting organizations’ data. Its platform helps businesses discover and classify sensitive information, manage access, identify potential threats, and remediate security risks across cloud and on-premises environments. The company’s offerings include data security, identity security, and threat-detection capabilities. They are designed to help organizations protect information in systems such as Microsoft 365, cloud infrastructure, and other business applications.