BlueCrest Capital Management Ltd Takes $2.87 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

BlueCrest Capital Management Ltd purchased a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,700 shares of the technology company’s stock, valued at approximately $2,865,000. Varonis Systems makes up approximately 0.2% of BlueCrest Capital Management Ltd’s holdings, making the stock its 29th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRNS. EFG Asset Management North America Corp. raised its stake in Varonis Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock valued at $2,181,000 after buying an additional 216 shares in the last quarter. O Neil Global Advisors Inc. raised its position in shares of Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after acquiring an additional 220 shares in the last quarter. Hanseatic Management Services Inc. lifted its stake in Varonis Systems by 1.7% during the second quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock worth $770,000 after purchasing an additional 275 shares during the last quarter. Xponance Inc. boosted its holdings in Varonis Systems by 5.6% in the second quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock worth $335,000 after purchasing an additional 367 shares during the period. Finally, Natixis Advisors LLC increased its stake in Varonis Systems by 3.5% during the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after purchasing an additional 401 shares during the last quarter. Institutional investors own 95.65% of the company’s stock.

Insider Buying and Selling at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the sale, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Piper Sandler raised their target price on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays lifted their target price on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Robert W. Baird increased their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Five 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.67.

Varonis Systems Stock Performance

Shares of VRNS opened at $49.96 on Friday. The firm has a market capitalization of $5.62 billion, a PE ratio of -66.61 and a beta of 0.82. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $54.52 and a 200 day moving average price of $50.98. Varonis Systems, Inc. has a 52-week low of $40.48 and a 52-week high of $60.58.

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

About Varonis Systems

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.