Inspire Investing LLC Has $350,000 Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Inspire Investing LLC trimmed its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,294 shares of the technology company’s stock after selling 219 shares during the quarter. Inspire Investing LLC’s holdings in Varonis Systems were worth $350,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. EFG Asset Management North America Corp. grew its position in Varonis Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock valued at $2,181,000 after purchasing an additional 216 shares in the last quarter. O Neil Global Advisors Inc. grew its position in Varonis Systems by 4.8% during the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after purchasing an additional 220 shares in the last quarter. Hanseatic Management Services Inc. grew its position in Varonis Systems by 1.7% during the second quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock valued at $770,000 after purchasing an additional 275 shares in the last quarter. Natixis Advisors LLC grew its position in Varonis Systems by 3.5% during the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after purchasing an additional 401 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Varonis Systems by 87.2% during the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after purchasing an additional 429 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Monday, August 26th. Barclays lifted their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and issued a $60.00 target price (up from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Finally, TD Cowen lifted their target price on shares of Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.33.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 75,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the completion of the transaction, the insider now directly owns 494,114 shares in the company, valued at approximately $25,219,578.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Varonis Systems Price Performance

Shares of Varonis Systems stock opened at $56.12 on Tuesday. The firm has a fifty day simple moving average of $53.17 and a 200-day simple moving average of $48.18. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. Varonis Systems, Inc. has a 1-year low of $29.47 and a 1-year high of $58.32. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of -59.70 and a beta of 0.81.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The business had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. Varonis Systems’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 earned ($0.35) earnings per share. On average, sell-side analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current 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.