Varonis Systems, Inc. (NASDAQ:VRNS) Shares Purchased by Assetmark Inc.

Assetmark Inc. boosted its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 31.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,814 shares of the technology company’s stock after acquiring an additional 1,375 shares during the quarter. Assetmark Inc.’s holdings in Varonis Systems were worth $328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hood River Capital Management LLC increased its holdings in shares of Varonis Systems by 40.8% in the 1st quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company’s stock valued at $76,032,000 after purchasing an additional 466,688 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Varonis Systems by 167.9% in the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock valued at $21,755,000 after buying an additional 284,236 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Varonis Systems by 40.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock valued at $38,361,000 after acquiring an additional 228,589 shares during the period. Vanguard Group Inc. boosted its stake in shares of Varonis Systems by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after acquiring an additional 155,040 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Varonis Systems by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after acquiring an additional 147,081 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Price Performance

VRNS stock opened at $51.08 on Friday. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -68.11 and a beta of 0.82. The stock’s fifty day simple moving average is $55.20 and its 200-day simple moving average is $50.60. Varonis Systems, Inc. has a 52-week low of $36.87 and a 52-week high of $60.58. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The firm had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same period last year, the company earned ($0.22) EPS. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts expect that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Insider Activity at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman James O’boyle sold 50,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the sale, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on VRNS shares. UBS Group lifted their price objective on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Piper Sandler raised their price target on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Susquehanna boosted their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, July 30th. Truist Financial restated a “buy” rating and set a $60.00 target price (up from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Finally, Robert W. Baird upped their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Varonis Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.67.

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.