Harbor Capital Advisors Inc. Increases Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Harbor Capital Advisors Inc. boosted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 39.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,964 shares of the technology company’s stock after purchasing an additional 7,627 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Varonis Systems were worth $1,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after buying an additional 423 shares during the period. Fidelis Capital Partners LLC purchased a new position in Varonis Systems during the 1st quarter valued at about $63,000. International Assets Investment Management LLC raised its holdings in shares of Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after purchasing an additional 2,442 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Varonis Systems in the 2nd quarter worth approximately $215,000. Finally, O Neil Global Advisors Inc. lifted its holdings in Varonis Systems by 4.8% during the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after buying an additional 220 shares during the period. 95.65% of the stock is owned by institutional investors.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $50.85 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $55.59 and its 200-day moving average price is $50.25. Varonis Systems, Inc. has a twelve month low of $33.54 and a twelve month high of $60.58. The company has a market cap of $5.72 billion, a P/E ratio of -67.80 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $148.07 million during the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) earnings per share. On average, sell-side analysts forecast that Varonis Systems, Inc. will post -0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VRNS shares. Truist Financial reissued a “buy” rating and set a $60.00 target price (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. TD Cowen lifted their price objective on shares of Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Wedbush restated an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Monday, August 26th. UBS Group increased their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Susquehanna increased 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. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.75.

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the sale, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

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.