KBC Group NV Boosts Position in Varonis Systems, Inc. (NASDAQ:VRNS)

KBC Group NV boosted its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 25.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,263 shares of the technology company’s stock after buying an additional 663 shares during the period. KBC Group NV’s holdings in Varonis Systems were worth $184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of VRNS. WCM Investment Management LLC acquired a new position in shares of Varonis Systems during the third quarter worth about $17,419,000. Lisanti Capital Growth LLC boosted its holdings in Varonis Systems by 17.0% in the third quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock valued at $4,198,000 after purchasing an additional 10,820 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Varonis Systems in the third quarter valued at approximately $1,045,000. Assetmark Inc. boosted its holdings in Varonis Systems by 31.0% in the third quarter. Assetmark Inc. now owns 5,814 shares of the technology company’s stock valued at $328,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Olympiad Research LP purchased a new stake in Varonis Systems in the third quarter valued at approximately $457,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the transaction, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the transaction, the chief financial officer now owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VRNS shares. Piper Sandler boosted their price objective on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a report on Wednesday, October 30th. Finally, Robert W. Baird upped their target price on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

Varonis Systems Stock Performance

Varonis Systems stock opened at $49.97 on Thursday. The stock’s 50-day moving average is $55.13 and its 200-day moving average is $50.78. The company has a market cap of $5.62 billion, a price-to-earnings ratio of -66.63 and a beta of 0.82. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. Varonis Systems, Inc. has a 12 month low of $38.62 and a 12 month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its 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 business had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company’s revenue was up 21.1% on a year-over-year basis. During the same period last year, the business posted ($0.22) EPS. Equities analysts anticipate that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

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.