4,484 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,484 shares of the technology company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. EFG Asset Management North America Corp. lifted its holdings in shares of Varonis Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock valued at $2,181,000 after purchasing an additional 216 shares during the last quarter. O Neil Global Advisors Inc. lifted its holdings in shares of Varonis Systems by 4.8% in the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after purchasing an additional 220 shares during the last quarter. Hanseatic Management Services Inc. raised its stake in Varonis Systems by 1.7% during the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock valued at $770,000 after acquiring an additional 275 shares during the last quarter. Natixis Advisors LLC raised its stake in Varonis Systems by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after acquiring an additional 401 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Varonis Systems by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 30,543 shares of the technology company’s stock valued at $1,465,000 after acquiring an additional 600 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Trading Down 2.6 %

Varonis Systems stock opened at $55.02 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of -58.53 and a beta of 0.81. Varonis Systems, Inc. has a 1 year low of $29.47 and a 1 year high of $58.32. The firm’s 50 day moving average price is $54.00 and its two-hundred day moving average price is $48.43.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The firm had revenue of $130.35 million for the quarter, compared to analysts’ expectations of $124.83 million. During the same period in the previous year, the company posted ($0.35) EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity

In other news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the transaction, the insider now directly owns 494,114 shares in the company, valued at approximately $25,219,578.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

VRNS has been the subject of several analyst reports. Wedbush reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Monday, August 26th. Royal Bank of Canada upped their price objective on Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Piper Sandler upped their price objective on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Barclays upped their price objective on Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Truist Financial reissued a “buy” rating and set a $60.00 target price (up from $55.00) 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, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

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.