Scalar Gauge Management LLC Buys New Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Scalar Gauge Management LLC acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 40,000 shares of the technology company’s stock, valued at approximately $2,260,000. Varonis Systems comprises about 1.2% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 20th largest holding.

Several other large investors have also recently bought and sold shares of the business. EFG Asset Management North America Corp. increased its stake in Varonis Systems by 0.5% in 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 purchasing an additional 216 shares during the last quarter. O Neil Global Advisors Inc. lifted its holdings in shares of Varonis Systems by 4.8% in the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after purchasing an additional 220 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in shares of Varonis Systems by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock valued at $770,000 after purchasing an additional 275 shares during the period. Xponance Inc. grew its stake in Varonis Systems by 5.6% during the 2nd quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock worth $335,000 after buying an additional 367 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in Varonis Systems by 3.5% during the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock worth $572,000 after buying an additional 401 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

NASDAQ VRNS opened at $49.96 on Friday. Varonis Systems, Inc. has a 1 year low of $40.48 and a 1 year high of $60.58. The business’s fifty day moving average is $54.52 and its two-hundred day moving average is $50.98. The stock has a market capitalization of $5.62 billion, a P/E ratio of -66.61 and a beta of 0.82. 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 announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping 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 company had revenue of $148.07 million during the quarter, compared to analysts’ expectations of $141.62 million. During the same period last year, the company posted ($0.22) earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, research analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. UBS Group upped their price objective on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays lifted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Robert W. Baird upped their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $67.00 price target on shares of Varonis Systems in a report on Monday, August 26th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.67.

Insider Buying and Selling

In related news, CFO Guy Melamed sold 91,345 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $2,988,000.00. Following 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 ownership of the stock. 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.