Varonis Systems, Inc. (NASDAQ:VRNS) Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC grew its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 16.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,294 shares of the technology company’s stock after purchasing an additional 10,255 shares during the quarter. Fred Alger Management LLC’s holdings in Varonis Systems were worth $4,085,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of VRNS. Farther Finance Advisors LLC boosted its holdings in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after acquiring an additional 2,442 shares in the last quarter. KBC Group NV boosted its stake in shares of Varonis Systems by 25.5% in the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after acquiring an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Varonis Systems during the third quarter worth approximately $184,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Varonis Systems in the 2nd quarter valued at $215,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

Shares of VRNS opened at $49.96 on Friday. The firm has a 50-day simple moving average of $54.52 and a two-hundred day simple moving average of $51.03. Varonis Systems, Inc. has a 1-year low of $40.48 and a 1-year high of $60.58. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share 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 firm had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. During the same quarter last year, the firm earned ($0.22) EPS. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, analysts anticipate 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 Varonis Systems stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at $27,096,912.60. The trade was a 15.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the sale, the insider now owns 444,114 shares in the company, valued at $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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Barclays increased their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and set a $65.00 target price on shares of Varonis Systems in a report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Varonis Systems in a report on Monday, August 26th. Finally, Robert W. Baird boosted their price objective on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Five investment 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.