KBC Group NV Grows Position in Varonis Systems, Inc. (NASDAQ:VRNS)

KBC Group NV increased its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 45.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,751 shares of the technology company’s stock after buying an additional 1,488 shares during the period. KBC Group NV’s holdings in Varonis Systems were worth $211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRNS. Virtue Capital Management LLC grew its holdings in shares of Varonis Systems by 2.3% during the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after purchasing an additional 364 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Varonis Systems by 445.3% during 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 during the last quarter. Hanseatic Management Services Inc. grew its stake in Varonis Systems by 4.3% in the 3rd quarter. Hanseatic Management Services Inc. now owns 16,742 shares of the technology company’s stock worth $946,000 after buying an additional 691 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Varonis Systems by 11.3% in the 3rd quarter. Captrust Financial Advisors now owns 8,263 shares of the technology company’s stock worth $467,000 after buying an additional 837 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Varonis Systems by 31.0% during the 3rd quarter. Assetmark Inc. now owns 5,814 shares of the technology company’s stock valued at $328,000 after buying an additional 1,375 shares in the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VRNS. DA Davidson reduced their target price on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Citigroup decreased their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Piper Sandler dropped their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.44.

Varonis Systems Stock Up 2.0 %

Shares of Varonis Systems stock opened at $46.84 on Wednesday. The company’s fifty day simple moving average is $46.19 and its two-hundred day simple moving average is $51.36. Varonis Systems, Inc. has a 12-month low of $41.13 and a 12-month high of $60.58. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.27 billion, a P/E ratio of -62.45 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. Research analysts anticipate that Varonis Systems, Inc. will post -0.7 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.