Allspring Global Investments Holdings LLC Acquires 32,922 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Allspring Global Investments Holdings LLC raised its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 12.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,644 shares of the technology company’s stock after purchasing an additional 32,922 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Varonis Systems were worth $14,662,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Varonis Systems by 24.5% during the second quarter. Bank of New York Mellon Corp now owns 618,793 shares of the technology company’s stock valued at $29,684,000 after buying an additional 121,772 shares during the period. EFG Asset Management North America Corp. lifted its position in shares of Varonis Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock worth $2,181,000 after purchasing an additional 216 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Varonis Systems by 3.3% during the 2nd quarter. Baillie Gifford & Co. now owns 19,804 shares of the technology company’s stock valued at $950,000 after purchasing an additional 628 shares in the last quarter. Raymond James & Associates increased its position in shares of Varonis Systems by 11.8% during the second quarter. Raymond James & Associates now owns 90,007 shares of the technology company’s stock valued at $4,318,000 after buying an additional 9,533 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Varonis Systems by 5.8% in the second quarter. Assenagon Asset Management S.A. now owns 134,086 shares of the technology company’s stock worth $6,432,000 after buying an additional 7,398 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upgraded Varonis Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $50.00 to $54.00 in a report on Friday, June 14th. Robert W. Baird raised Varonis Systems from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $52.00 to $60.00 in a research report on Tuesday, July 30th. 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 report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price target on shares of Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

Varonis Systems Trading Down 1.0 %

Shares of NASDAQ:VRNS opened at $56.07 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44. Varonis Systems, Inc. has a 1 year low of $29.47 and a 1 year high of $58.32. The company has a market cap of $6.25 billion, a P/E ratio of -59.65 and a beta of 0.82. The stock’s fifty day moving average price is $50.77 and its 200-day moving average price is $47.70.

Varonis Systems (NASDAQ:VRNS) last posted its 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. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The business had revenue of $130.35 million for the quarter, compared to analysts’ expectations of $124.83 million. During the same quarter in the prior year, the business earned ($0.35) EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other news, Vice Chairman James O’boyle sold 75,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the transaction, the insider now directly owns 494,114 shares of the company’s stock, valued at approximately $25,219,578.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by corporate insiders.

Varonis Systems 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.