Quantbot Technologies LP Acquires 43,258 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Quantbot Technologies LP increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 61.4% during the third quarter, Holdings Channel.com reports. The firm owned 113,671 shares of the technology company’s stock after acquiring an additional 43,258 shares during the quarter. Quantbot Technologies LP’s holdings in Varonis Systems were worth $6,422,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its stake in Varonis Systems by 4.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after purchasing an additional 127,129 shares during the period. William Blair Investment Management LLC raised its stake in shares of Varonis Systems by 1.1% during the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock valued at $106,396,000 after acquiring an additional 23,231 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Varonis Systems by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after purchasing an additional 147,081 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Varonis Systems by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock valued at $54,405,000 after purchasing an additional 59,218 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in 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 purchasing an additional 228,589 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Price Performance

NASDAQ:VRNS opened at $50.11 on Tuesday. The firm’s fifty day moving average is $54.91 and its two-hundred day moving average is $50.92. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of -66.81 and a beta of 0.82. Varonis Systems, Inc. has a one year low of $39.67 and a one year high of $60.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VRNS. Wells Fargo & Company boosted their target price on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Piper Sandler raised their target price on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Barclays increased their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

Insider Activity

In related news, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction that occurred 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 directly owns 444,114 shares of the company’s stock, valued at $26,540,252.64. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

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.