Tidal Investments LLC Makes New Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

Tidal Investments LLC bought a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the third quarter, HoldingsChannel reports. The institutional investor bought 4,110 shares of the technology company’s stock, valued at approximately $232,000.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after purchasing an additional 423 shares during the period. International Assets Investment Management LLC raised its position 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 buying an additional 2,442 shares in the last quarter. KBC Group NV lifted its holdings in shares of Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after acquiring an additional 663 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Varonis Systems during the 3rd quarter worth approximately $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Varonis Systems in the second quarter valued at approximately $215,000. 95.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VRNS shares. Robert W. Baird boosted their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. UBS Group increased their target price 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. Piper Sandler lifted their price target on shares of Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group dropped their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Finally, DA Davidson decreased their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.19.

Varonis Systems Trading Up 0.4 %

NASDAQ:VRNS opened at $45.36 on Thursday. Varonis Systems, Inc. has a 52 week low of $41.13 and a 52 week high of $60.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The firm’s fifty day moving average is $51.37 and its 200-day moving average is $51.58. The firm has a market cap of $5.10 billion, a P/E ratio of -60.48 and a beta of 0.80.

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

Insider Buying and Selling

In other news, Vice Chairman James O’boyle sold 50,000 shares of the company’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 transaction, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Guy Melamed sold 91,345 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the transaction, the chief financial officer now directly owns 504,598 shares in the company, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

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.