Varonis Systems, Inc. (NASDAQ:VRNS) Shares Bought by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. boosted its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,328,250 shares of the technology company’s stock after buying an additional 104,171 shares during the quarter. Goldman Sachs Group Inc. owned 1.22% of Varonis Systems worth $60,143,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Varonis Systems during the 4th quarter worth approximately $232,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Varonis Systems in the 4th quarter valued at $7,591,000. First Trust Advisors LP raised its holdings in shares of Varonis Systems by 7.9% in the 4th quarter. First Trust Advisors LP now owns 4,426,593 shares of the technology company’s stock valued at $200,436,000 after purchasing an additional 325,347 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Varonis Systems in the 4th quarter valued at $472,000. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Varonis Systems in the 4th quarter valued at $14,822,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VRNS. Robert W. Baird raised their price objective on shares of Varonis Systems from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Truist Financial restated a “buy” rating and issued a $55.00 price objective (up from $50.00) on shares of Varonis Systems in a report on Wednesday, March 13th. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a report on Monday, May 13th. JPMorgan Chase & Co. upgraded shares of Varonis Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $50.00 to $54.00 in a report on Friday, June 14th. Finally, Royal Bank of Canada raised their price objective on shares of Varonis Systems from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.31.

Varonis Systems Trading Down 0.8 %

Shares of Varonis Systems stock opened at $43.33 on Wednesday. Varonis Systems, Inc. has a 1 year low of $24.66 and a 1 year high of $52.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market capitalization of $4.83 billion, a P/E ratio of -46.10 and a beta of 0.79. The company’s fifty day moving average is $43.92 and its two-hundred day moving average is $45.84.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Monday, May 6th. The technology company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). Varonis Systems had a negative net margin of 20.38% and a negative return on equity of 21.33%. The company had revenue of $114.02 million for the quarter, compared to the consensus estimate of $113.81 million. Analysts forecast that Varonis Systems, Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In other news, CEO Yakov Faitelson sold 284,211 shares of Varonis Systems stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $45.23, for a total value of $12,854,863.53. Following the sale, the chief executive officer now owns 1,452,922 shares of the company’s stock, valued at $65,715,662.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.