Vontobel Holding Ltd. Acquires 14,295 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Vontobel Holding Ltd. raised its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 226.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,595 shares of the technology company’s stock after purchasing an additional 14,295 shares during the period. Vontobel Holding Ltd.’s holdings in Varonis Systems were worth $1,164,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in Varonis Systems during the 4th quarter valued at approximately $232,000. Wellington Management Group LLP increased its holdings in shares of Varonis Systems by 51.5% during the fourth quarter. Wellington Management Group LLP now owns 722,337 shares of the technology company’s stock valued at $32,707,000 after acquiring an additional 245,476 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Varonis Systems in the 1st quarter worth about $68,000. Principal Financial Group Inc. raised its position in shares of Varonis Systems by 121.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,503,683 shares of the technology company’s stock worth $70,929,000 after purchasing an additional 824,163 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Varonis Systems by 126.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock worth $90,336,000 after purchasing an additional 1,070,821 shares in the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Price Performance

Shares of Varonis Systems stock opened at $59.43 on Friday. The stock’s fifty day moving average is $55.88 and its 200 day moving average is $49.40. Varonis Systems, Inc. has a one year low of $30.89 and a one year high of $60.58. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. The stock has a market cap of $6.63 billion, a P/E ratio of -63.22 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The firm had revenue of $130.35 million for the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) EPS. Sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VRNS shares. Royal Bank of Canada lifted their target price on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their price objective on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Robert W. Baird raised Varonis Systems from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $60.00 in a report on Tuesday, July 30th. Piper Sandler upped their price target on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Baird R W upgraded Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Varonis Systems has a consensus rating of “Moderate Buy” and a consensus price target of $56.67.

Insiders Place Their Bets

In other news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

Varonis Systems Company 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.