Varonis Systems, Inc. (NASDAQ:VRNS) Stake Raised by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,874,388 shares of the technology company’s stock after acquiring an additional 127,129 shares during the quarter. Thrivent Financial for Lutherans owned 2.56% of Varonis Systems worth $137,885,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Varonis Systems by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after acquiring an additional 155,040 shares during the period. First Trust Advisors LP grew its holdings in Varonis Systems by 7.9% during the fourth quarter. First Trust Advisors LP now owns 4,426,593 shares of the technology company’s stock worth $200,436,000 after acquiring an additional 325,347 shares during the period. William Blair Investment Management LLC raised its position in Varonis Systems by 1.1% in the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after acquiring an additional 23,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 valued at $90,336,000 after purchasing an additional 1,070,821 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Varonis Systems by 8.9% in 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 and hedge funds own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Susquehanna upped their price target on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. Baird R W raised shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. TD Cowen boosted their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Robert W. Baird raised shares of Varonis Systems from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $52.00 to $60.00 in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company increased their target price on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Varonis Systems presently has an average rating of “Moderate Buy” and an average price target of $56.33.

Varonis Systems Trading Up 1.4 %

Shares of VRNS opened at $55.88 on Friday. Varonis Systems, Inc. has a 52-week low of $29.47 and a 52-week high of $58.32. The company has a market cap of $6.27 billion, a price-to-earnings ratio of -59.45 and a beta of 0.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. The stock has a fifty day moving average price of $53.06 and a two-hundred day moving average price of $48.15.

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

Insiders Place Their Bets

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 stock was sold at an average price of $51.04, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

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.