Pacer Advisors Inc. Grows Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Pacer Advisors Inc. raised its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 29.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,645 shares of the technology company’s stock after purchasing an additional 603 shares during the quarter. Pacer Advisors Inc.’s holdings in Varonis Systems were worth $118,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in VRNS. Virtue Capital Management LLC raised its holdings in shares of Varonis Systems by 2.3% in the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after buying an additional 364 shares during the period. Farther Finance Advisors LLC grew its position in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after acquiring an additional 423 shares during the last quarter. KBC Group NV increased its stake in Varonis Systems by 25.5% in the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after purchasing an additional 663 shares during the period. Hanseatic Management Services Inc. lifted its position in shares of Varonis Systems by 4.3% during the third quarter. Hanseatic Management Services Inc. now owns 16,742 shares of the technology company’s stock worth $946,000 after purchasing an additional 691 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Varonis Systems by 11.3% during the third quarter. Captrust Financial Advisors now owns 8,263 shares of the technology company’s stock valued at $467,000 after purchasing an additional 837 shares during the period. Institutional investors own 95.65% of the company’s stock.

Insiders Place Their Bets

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of Varonis Systems 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VRNS has been the topic of several recent analyst reports. DA Davidson reduced their price target 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. Jefferies Financial Group decreased their price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 30th. UBS Group lifted their target price on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler dropped their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.44.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $46.84 on Wednesday. Varonis Systems, Inc. has a 12-month low of $41.13 and a 12-month high of $60.58. The business’s fifty day simple moving average is $46.19 and its 200-day simple moving average is $51.36. 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 has a market cap of $5.27 billion, a PE ratio of -62.45 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. Analysts expect that Varonis Systems, Inc. will post -0.7 earnings per share 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.