Victory Capital Management Inc. Has $37.10 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Victory Capital Management Inc. boosted its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 0.9% in the second quarter, Holdings Channel reports. The institutional investor owned 773,353 shares of the technology company’s stock after buying an additional 6,719 shares during the period. Victory Capital Management Inc.’s holdings in Varonis Systems were worth $37,098,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 155,040 shares during the period. First Trust Advisors LP increased its stake in shares of Varonis Systems by 7.9% in the fourth quarter. First Trust Advisors LP now owns 4,426,593 shares of the technology company’s stock valued at $200,436,000 after buying an additional 325,347 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Varonis Systems by 1.9% in the fourth quarter. Clearbridge Investments LLC now owns 3,722,692 shares of the technology company’s stock worth $168,563,000 after acquiring an additional 70,572 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Varonis Systems by 126.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock valued at $90,336,000 after acquiring an additional 1,070,821 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Varonis Systems by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company’s stock valued at $78,517,000 after purchasing an additional 133,109 shares during the period. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the transaction, the insider now directly owns 494,114 shares in the company, valued at approximately $25,219,578.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Varonis Systems Trading Down 0.6 %

NASDAQ:VRNS opened at $50.79 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44. Varonis Systems, Inc. has a one year low of $29.47 and a one year high of $58.32. The company has a market cap of $5.70 billion, a PE ratio of -54.03 and a beta of 0.81. The firm has a 50-day moving average of $51.94 and a 200-day moving average of $47.91.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on VRNS. Needham & Company LLC reissued a “hold” rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Susquehanna lifted their target price on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Royal Bank of Canada increased their price target on Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Piper Sandler lifted their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, TD Cowen increased their target price on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

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.