Allspring Global Investments Holdings LLC Purchases 44,826 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Allspring Global Investments Holdings LLC boosted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 14.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,470 shares of the technology company’s stock after purchasing an additional 44,826 shares during the period. Allspring Global Investments Holdings LLC owned about 0.31% of Varonis Systems worth $19,802,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Varonis Systems by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after purchasing an additional 155,040 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Varonis Systems by 4.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after purchasing an additional 127,129 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Varonis Systems by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after purchasing an additional 23,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Varonis Systems by 126.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock worth $90,336,000 after purchasing an additional 1,070,821 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Varonis Systems by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company’s stock worth $78,517,000 after purchasing an additional 133,109 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Insiders Place Their Bets

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on VRNS shares. Susquehanna increased their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Piper Sandler increased their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Wedbush restated an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Monday, August 26th. Finally, TD Cowen increased their price objective on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.63.

Varonis Systems Trading Down 0.5 %

Shares of VRNS stock opened at $56.31 on Friday. The firm has a 50 day moving average price of $56.08 and a two-hundred day moving average price of $49.68. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $6.28 billion, a PE ratio of -59.90 and a beta of 0.82. Varonis Systems, Inc. has a 12-month low of $30.89 and a 12-month high of $60.58.

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

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.