XTX Topco Ltd Purchases New Shares in Varonis Systems, Inc. (NASDAQ:VRNS)

XTX Topco Ltd acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 8,135 shares of the technology company’s stock, valued at approximately $390,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of VRNS. Seven Eight Capital LP raised its holdings in shares of Varonis Systems by 5.5% in the second quarter. Seven Eight Capital LP now owns 15,781 shares of the technology company’s stock valued at $757,000 after buying an additional 820 shares during the last quarter. Hsbc Holdings PLC increased its position in Varonis Systems by 127.4% in the 2nd quarter. Hsbc Holdings PLC now owns 56,409 shares of the technology company’s stock valued at $2,673,000 after acquiring an additional 31,600 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Varonis Systems in the second quarter worth about $215,000. Edgestream Partners L.P. lifted its position in shares of Varonis Systems by 144.9% during the second quarter. Edgestream Partners L.P. now owns 103,825 shares of the technology company’s stock worth $4,980,000 after purchasing an additional 61,425 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Varonis Systems by 21.7% during the second quarter. Renaissance Technologies LLC now owns 197,100 shares of the technology company’s stock valued at $9,455,000 after purchasing an additional 35,200 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Analysts Set New Price Targets

VRNS has been the topic of several research reports. Susquehanna upped their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Piper Sandler upped their price target on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upgraded Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $50.00 to $54.00 in a research report on Friday, June 14th. Wedbush reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Monday, August 26th. Finally, Truist Financial reiterated a “buy” rating and set a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

Insider Buying and Selling at Varonis Systems

In other news, Vice Chairman James O’boyle sold 75,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 494,114 shares of the company’s stock, valued at $25,219,578.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Varonis Systems Price Performance

Shares of VRNS opened at $57.15 on Thursday. 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 firm has a market capitalization of $6.41 billion, a PE ratio of -60.80 and a beta of 0.81. The stock has a 50 day simple moving average of $53.44 and a 200 day simple moving average of $48.29. Varonis Systems, Inc. has a 52-week low of $29.47 and a 52-week high of $58.32.

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 company 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 firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. Sell-side analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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.