AustralianSuper Pty Ltd Takes $23.58 Million Position in Varonis Systems, Inc. $VRNS

AustralianSuper Pty Ltd acquired a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 464,666 shares of the technology company’s stock, valued at approximately $23,582,000.

A number of other hedge funds have also recently made changes to their positions in the business. Teacher Retirement System of Texas grew its holdings in shares of Varonis Systems by 8.2% during the second quarter. Teacher Retirement System of Texas now owns 17,791 shares of the technology company’s stock valued at $903,000 after buying an additional 1,351 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Varonis Systems by 655.9% during the second quarter. Y Intercept Hong Kong Ltd now owns 131,067 shares of the technology company’s stock valued at $6,652,000 after buying an additional 113,727 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Varonis Systems by 179.1% during the second quarter. Bessemer Group Inc. now owns 494 shares of the technology company’s stock valued at $25,000 after buying an additional 317 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Varonis Systems during the second quarter valued at about $278,000. Finally, Fiduciary Wealth Partners LLC acquired a new position in shares of Varonis Systems during the second quarter valued at about $228,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of Varonis Systems stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $55.08, for a total value of $165,240.00. Following the sale, the director owned 128,666 shares of the company’s stock, valued at approximately $7,086,923.28. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 1,500 shares of Varonis Systems stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $59.59, for a total transaction of $89,385.00. Following the completion of the sale, the chief financial officer directly owned 412,105 shares in the company, valued at approximately $24,557,336.95. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,386 shares of company stock worth $6,429,405. Insiders own 2.30% of the company’s stock.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $62.68 on Tuesday. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of -68.13 and a beta of 0.64. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $63.90. The firm’s 50-day simple moving average is $59.05 and its two-hundred day simple moving average is $52.45.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $152.16 million for the quarter, compared to analyst estimates of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. As a group, equities analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VRNS shares. Wedbush reiterated an “outperform” rating and set a $65.00 price objective on shares of Varonis Systems in a report on Wednesday, September 3rd. Royal Bank Of Canada restated an “outperform” rating and set a $64.00 price target on shares of Varonis Systems in a report on Wednesday, September 3rd. Robert W. Baird boosted their price target on shares of Varonis Systems from $58.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Barclays boosted their price target on shares of Varonis Systems from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Susquehanna boosted their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Wednesday, July 30th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and an average price target of $65.44.

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.