Franklin Resources Inc. Has $2.38 Million Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Franklin Resources Inc. grew its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 14.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,785 shares of the technology company’s stock after purchasing an additional 5,031 shares during the period. Franklin Resources Inc.’s holdings in Varonis Systems were worth $2,383,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in VRNS. Farther Finance Advisors LLC grew its position in Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after purchasing an additional 423 shares in the last quarter. International Assets Investment Management LLC grew 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 acquiring an additional 2,442 shares in the last quarter. KBC Group NV grew its holdings in shares of Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after acquiring an additional 663 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Varonis Systems in the third quarter valued at about $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Varonis Systems during the second quarter worth about $215,000. Institutional investors own 95.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VRNS. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. Jefferies Financial Group lowered their target price on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. DA Davidson cut their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. UBS Group boosted their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird upped their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.19.

Varonis Systems Stock Up 0.0 %

VRNS stock opened at $45.38 on Friday. Varonis Systems, Inc. has a fifty-two week low of $41.13 and a fifty-two week high of $60.58. 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 capitalization of $5.10 billion, a price-to-earnings ratio of -60.51 and a beta of 0.80. The business’s fifty day moving average price is $51.10 and its two-hundred day moving average price is $51.53.

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

Insider Activity at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction dated 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 $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the sale, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate 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.