Varonis Systems, Inc. (NASDAQ:VRNS) Shares Acquired by Swiss National Bank

Swiss National Bank raised its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 1.3% in the third quarter, Holdings Channel.com reports. The firm owned 217,754 shares of the technology company’s stock after buying an additional 2,700 shares during the period. Swiss National Bank’s holdings in Varonis Systems were worth $12,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Varonis Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after buying an additional 155,040 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Varonis Systems by 4.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after acquiring an additional 127,129 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Varonis Systems by 1.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after purchasing an additional 23,231 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after purchasing an additional 147,081 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Varonis Systems by 40.0% during the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock worth $38,361,000 after purchasing an additional 228,589 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the company’s 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 sale, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the transaction, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Varonis Systems Stock Down 0.4 %

VRNS opened at $50.02 on Friday. The stock’s 50 day moving average price is $54.98 and its 200 day moving average price is $50.81. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a market cap of $5.63 billion, a P/E ratio of -66.69 and a beta of 0.82. Varonis Systems, Inc. has a 12 month low of $39.56 and a 12 month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company’s revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.22) earnings per share. As a group, research analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on VRNS shares. TD Cowen upped their price objective on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Barclays lifted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wedbush reissued an “outperform” rating and set a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Varonis Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.67.

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.