Inspire Investing LLC Decreases Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Inspire Investing LLC cut its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,294 shares of the technology company’s stock after selling 219 shares during the quarter. Inspire Investing LLC’s holdings in Varonis Systems were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in VRNS. Dimensional Fund Advisors LP boosted its stake in shares of Varonis Systems by 18.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,108,532 shares of the technology company’s stock valued at $50,195,000 after purchasing an additional 173,325 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in Varonis Systems during the 4th quarter valued at $213,000. Quadrant Capital Group LLC boosted its stake in Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after acquiring an additional 429 shares during the last quarter. Norges Bank bought a new position in Varonis Systems during the 4th quarter valued at $50,723,000. Finally, Assetmark Inc. bought a new position in Varonis Systems during the 4th quarter valued at $98,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Varonis Systems

In other news, Vice Chairman James O’boyle sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the completion of the transaction, the insider now owns 494,114 shares in the company, valued at approximately $25,219,578.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is owned by corporate insiders.

Varonis Systems Stock Up 0.4 %

VRNS stock opened at $56.12 on Tuesday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55. Varonis Systems, Inc. has a fifty-two week low of $29.47 and a fifty-two week high of $58.32. The firm’s 50-day simple moving average is $53.17 and its 200 day simple moving average is $48.18. The stock has a market cap of $6.26 billion, a PE ratio of -59.70 and a beta of 0.81.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The firm had revenue of $130.35 million for the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. Varonis Systems’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.35) EPS. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

VRNS has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised shares of Varonis Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $50.00 to $54.00 in a report on Friday, June 14th. Barclays increased their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Robert W. Baird raised shares of Varonis Systems from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $52.00 to $60.00 in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.33.

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.