Allspring Global Investments Holdings LLC Acquires 44,826 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 14.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,470 shares of the technology company’s stock after purchasing an additional 44,826 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Varonis Systems were worth $19,802,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Compass Wealth Management LLC increased its stake in Varonis Systems by 26.6% in the third quarter. Compass Wealth Management LLC now owns 75,693 shares of the technology company’s stock valued at $4,277,000 after acquiring an additional 15,900 shares during the last quarter. nVerses Capital LLC bought a new position in Varonis Systems in the third quarter valued at approximately $446,000. Vontobel Holding Ltd. increased its stake in Varonis Systems by 226.9% in the third quarter. Vontobel Holding Ltd. now owns 20,595 shares of the technology company’s stock valued at $1,164,000 after acquiring an additional 14,295 shares during the last quarter. Creative Planning increased its stake in Varonis Systems by 66.4% in the third quarter. Creative Planning now owns 24,265 shares of the technology company’s stock valued at $1,371,000 after acquiring an additional 9,681 shares during the last quarter. Finally, Diversified Trust Co increased its stake in Varonis Systems by 12.4% in the third quarter. Diversified Trust Co now owns 13,474 shares of the technology company’s stock valued at $761,000 after acquiring an additional 1,485 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VRNS has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Robert W. Baird lifted their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Cowen lifted their price objective on shares of Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. UBS Group boosted their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $57.63.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $56.31 on Friday. The firm has a market cap of $6.28 billion, a PE ratio of -59.90 and a beta of 0.82. The firm’s fifty day moving average is $56.08 and its 200-day moving average is $49.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. Varonis Systems, Inc. has a 52 week low of $30.89 and a 52 week high of $60.58.

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

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

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.