Two Sigma Advisers LP Boosts Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Two Sigma Advisers LP lifted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 46.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 839,200 shares of the technology company’s stock after acquiring an additional 267,000 shares during the quarter. Two Sigma Advisers LP owned 0.75% of Varonis Systems worth $47,415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. WCM Investment Management LLC purchased a new position in Varonis Systems in the 3rd quarter worth approximately $17,419,000. Squarepoint Ops LLC increased its holdings in Varonis Systems by 167.9% in the 2nd quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock valued at $21,755,000 after purchasing an additional 284,236 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Varonis Systems by 40.0% in 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 buying an additional 228,589 shares during the period. Thematics Asset Management boosted its position in Varonis Systems by 40.2% in the 3rd quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock valued at $29,945,000 after buying an additional 152,000 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after buying an additional 147,081 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VRNS shares. Piper Sandler boosted their price target on shares of Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. 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. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.67.

Varonis Systems Stock Up 0.2 %

VRNS stock opened at $49.81 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. Varonis Systems, Inc. has a 12 month low of $41.13 and a 12 month high of $60.58. The firm has a 50 day moving average of $53.87 and a two-hundred day moving average of $51.20.

Varonis Systems (NASDAQ:VRNS) last posted 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 the consensus estimate of $141.62 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, sell-side analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Insider Activity

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Varonis Systems Company 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.