KBC Group NV Purchases 1,488 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

KBC Group NV grew its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 45.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,751 shares of the technology company’s stock after purchasing an additional 1,488 shares during the period. KBC Group NV’s holdings in Varonis Systems were worth $211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in shares of Varonis Systems by 761.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after buying an additional 995,274 shares during the last quarter. WCM Investment Management LLC acquired a new position in Varonis Systems during the third quarter valued at approximately $17,419,000. Two Sigma Advisers LP grew its stake in Varonis Systems by 46.7% in the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after purchasing an additional 267,000 shares in the last quarter. Thematics Asset Management increased its position in shares of Varonis Systems by 40.2% during the 3rd quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock worth $29,945,000 after purchasing an additional 152,000 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Varonis Systems by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after purchasing an additional 147,081 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VRNS. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an “overweight” rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. raised their target price 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. Piper Sandler dropped their price objective on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup reduced their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.44.

Insider Transactions at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

Varonis Systems Trading Up 2.0 %

VRNS opened at $46.84 on Wednesday. The company’s 50 day moving average price is $46.19 and its two-hundred day moving average price is $51.36. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of -62.45 and a beta of 0.83. Varonis Systems, Inc. has a fifty-two week low of $41.13 and a fifty-two week high of $60.58. 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 (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. As a group, research analysts predict that Varonis Systems, Inc. will post -0.7 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.