Varonis Systems, Inc. (NASDAQ:VRNS) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,615,462 shares of the technology company’s stock after acquiring an additional 29,050 shares during the period. Geode Capital Management LLC owned 2.33% of Varonis Systems worth $147,801,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Raymond James & Associates boosted its stake in Varonis Systems by 11.8% during the second quarter. Raymond James & Associates now owns 90,007 shares of the technology company’s stock worth $4,318,000 after buying an additional 9,533 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Varonis Systems by 3.3% in the second quarter. Baillie Gifford & Co. now owns 19,804 shares of the technology company’s stock valued at $950,000 after purchasing an additional 628 shares during the period. EFG Asset Management North America Corp. increased its position in Varonis Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock worth $2,181,000 after purchasing an additional 216 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Varonis Systems by 24.5% during the second quarter. Bank of New York Mellon Corp now owns 618,793 shares of the technology company’s stock worth $29,684,000 after purchasing an additional 121,772 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Varonis Systems by 12.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 305,644 shares of the technology company’s stock valued at $14,662,000 after purchasing an additional 32,922 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $47.78 on Tuesday. The firm has a 50 day moving average of $53.11 and a two-hundred day moving average of $51.41. The stock has a market capitalization of $5.37 billion, a PE ratio of -63.71 and a beta of 0.80. 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, Inc. has a 52 week low of $41.13 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $141.62 million. During the same period last year, the business posted ($0.22) earnings per share. Varonis Systems’s revenue was up 21.1% compared to the same quarter last year. On average, research analysts predict that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

Insider Transactions at Varonis Systems

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

Wall Street Analysts Forecast Growth

VRNS has been the topic of several analyst reports. Barclays lifted their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price objective on shares of Varonis Systems in a research report on Wednesday, October 30th. DA Davidson reduced their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Piper Sandler increased their target price on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, 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 note on Monday, October 28th. Five research 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 company’s stock. According to MarketBeat, Varonis Systems has an average rating of “Moderate Buy” and an average target price of $59.80.

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.