Ensign Peak Advisors Inc Has $2.12 Million Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Ensign Peak Advisors Inc lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 15.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,231 shares of the technology company’s stock after selling 8,375 shares during the period. Ensign Peak Advisors Inc’s holdings in Varonis Systems were worth $2,122,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in Varonis Systems during the first quarter valued at $63,000. NBC Securities Inc. purchased a new stake in shares of Varonis Systems during the 1st quarter worth about $68,000. Assetmark Inc. acquired a new stake in shares of Varonis Systems during the 4th quarter valued at about $98,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems in the 2nd quarter valued at approximately $215,000. Finally, O Neil Global Advisors Inc. increased its holdings in Varonis Systems by 4.8% in the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after buying an additional 220 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of analysts have issued reports on VRNS shares. 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. JPMorgan Chase & Co. raised shares of Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $50.00 to $54.00 in a research note on Friday, June 14th. Piper Sandler increased their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen raised their target price on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Robert W. Baird upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $52.00 to $60.00 in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.33.

Varonis Systems Trading Down 1.5 %

Shares of VRNS stock opened at $56.23 on Friday. 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 firm’s fifty day simple moving average is $53.63 and its 200 day simple moving average is $48.35. The firm has a market capitalization of $6.27 billion, a P/E ratio of -59.82 and a beta of 0.81.

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