Xponance Inc. Acquires 367 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Xponance Inc. raised its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,975 shares of the technology company’s stock after purchasing an additional 367 shares during the quarter. Xponance Inc.’s holdings in Varonis Systems were worth $335,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRNS. Bank of Nova Scotia bought a new stake in Varonis Systems during the 4th quarter valued at $453,000. Belpointe Asset Management LLC bought a new stake in Varonis Systems during the 4th quarter valued at $472,000. First Trust Advisors LP increased its stake in Varonis Systems by 7.9% during 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. Teachers Retirement System of The State of Kentucky bought a new stake in Varonis Systems during the 4th quarter valued at $7,591,000. Finally, Virtu Financial LLC bought a new stake in shares of Varonis Systems in the 4th quarter worth $232,000. Institutional investors own 95.65% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman James O’boyle sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00. Following the transaction, the insider now directly owns 494,114 shares in the company, valued at $25,219,578.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

Varonis Systems Trading Down 2.6 %

Shares of Varonis Systems stock opened at $55.02 on Wednesday. Varonis Systems, Inc. has a 12-month low of $29.47 and a 12-month high of $58.32. The company has a market cap of $6.13 billion, a price-to-earnings ratio of -58.53 and a beta of 0.81. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $54.00 and its 200-day moving average price is $48.43.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on VRNS shares. Piper Sandler upped their target price 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. Truist Financial reiterated a “buy” rating and issued a $60.00 target price (up previously from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. TD Cowen upped their target price 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. Susquehanna upped their target price 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. Finally, Royal Bank of Canada upped their target price on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.